In another step toward closer collaboration and cooperation, the World Bank and the Inter-American Development Bank signed a memorandum of understanding on Thursday that will push them to better align and make progress around specific priorities.
While the leaders of the institutions said there are many areas where the institutions can work together, this particular MOU focuses on three: addressing deforestation and the livelihoods of communities in the Amazon, digitization to improve education, and bolstering the Caribbean's resilience to natural disasters.
World Bank President Ajay Banga and IDB President Ilan Goldfajn traveled together in June to Peru and Jamaica, the first time leaders of the institutions went on a joint trip. Somewhere along the way over a glass of wine, or a cup of coffee — the two had different recollections — they outlined what would become the agreement the two just signed at an event in Washington, D.C.
About the author
Adva Saldinger@AdvaSal
Adva Saldinger is a Senior Reporter at Devex where she covers development finance, as well as U.S. foreign aid policy. Adva explores the role the private sector and private capital play in development and authors the weekly Devex Invested newsletter bringing the latest news on the role of business and finance in addressing global challenges. A journalist with more than 10 years of experience, she has worked at several newspapers in the U.S. and lived in both Ghana and South Africa.
