WASHINGTON – The U.S. International Development Finance Corporation (DFC) and IDB Invest today launched a platform to expand their cooperation and financing for high-quality critical infrastructure and other strategic economic sectors in Latin America and the Caribbean. DFC CEO Scott Nathan and IDB Invest CEO James Scriven signed the framework to establish the Americas Partnership Platform (the Platform) during the inaugural Americas Partnership for Economic Prosperity (Americas Partnership) Leaders’ Summit.
“I am excited about this new partnership with IDB Invest. DFC is committed to unleashing the power of private capital to deliver high-quality infrastructure that will connect communities in the Americas to the opportunities in the global marketplace,” said DFC CEO Scott Nathan . “With this new Platform, we are supporting President Biden’s vision for a more competitive and resilient hemisphere. Working closely together with IDB Invest should lead to more projects and enable greater impact.”
“Through this partnership, IDB Invest and DFC aim to usher in a new era of cooperation to scale impact in Latin America and the Caribbean,” said IDB Invest CEO James Scriven . “We are working together, identifying projects and opportunities to attract more investments to our region.”
Through increased information sharing, coordination, and cooperation, DFC and IDB Invest aim to leverage the Platform to expand their partnership and direct billions of additional dollars to support high-standard investments throughout the Western Hemisphere. To this end, DFC and IDB Invest have begun initial consultations on $3 billion worth of projects identified by the institutions that may be eligible for financing under the Platform. Both institutions are committed to leveraging the Platform’s architecture to expeditiously evaluate these and additional proposals for co-financing in line with the values of the Platform and the institutions’ respective charters and mandates.
With this initiative, we will collaborate with the Americas Partnership to help build sustainable infrastructure, bolster inclusive economic growth, and strengthen regional competitiveness and integration for the benefit of the people of the region.
The Platform will focus on helping meet demand for increased financing for high-standard infrastructure in the region through greater information-sharing and coordination between the two institutions on matters such as due diligence and engagements with clients to facilitate potential co-investment opportunities. The Platform will also better enable the institutions to work together to source new projects.
In addition, the Platform will build on DFC’s and the IDB Group’s history of cooperation in the region, where the two institutions have worked together to support diverse, high-impact projects, including this year’s innovative $656 million Galápagos Islands marine bond.
The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. DFC has close to $10 billion in exposure across Latin America and the Caribbean as part of its dual mandate to support U.S. development and foreign policy priorities. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $16.3 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of sectors.