Robert Le Hunte, Executive Director for the Caribbean at the IDB
IDB Invest, the private sector lending arm of the Inter-American Development Bank, says its will roll out a new phase of offerings in the near to medium term.
IDB Invest 2.0 is expected to see the entity having more capital for on-lending to private sector firms in the region.
Robert Le Hunte, Executive Director for the Caribbean at the IDB, said he is excited about the initiative which will see the lending arm doubling its size, risk tolerance and increasing funding for upstreaming of projects as well as local currency financing.
In 2022, the Boards of Governors of the Inter-American Development Bank and IDB Invest approved a roadmap for a series of institutional reforms for the IDB, and mandated a proposal for a capital increase for IDB Invest.
They expect this business model to help countries across Latin America and the Caribbean more effectively address challenges, including poverty and inequality, climate change and the need for digitalisation.
Currently, IDB Invest has a portfolio of US$16.3 billion in assets under management, and over 390 clients in 25 countries.