IDB Assembly in Punta Cana focuses on climate crisis and inequality

Punta Cana.- The Annual Meeting of the Inter-American Development Bank (IDB) kicks off in Punta Cana this Wednesday, bringing together financial authorities from the organization’s member countries to address crucial regional issues, including the climate crisis and inequality.

Running for six days, the meeting will assemble economic and financial leaders, as well as private sector representatives, from the IDB’s 48 member countries. Discussions will revolve around development challenges and opportunities in Latin America and the Caribbean, spanning topics such as climate change mitigation, sustainable growth, and the reduction of poverty and inequality.

Hosted at the Barceló Bávaro Convention Center, this marks the 64th edition of the Annual Meeting of the IDB Board of Governors. Simultaneously, the 38th edition of the IDB Invest Board of Governors Assembly will take place, focusing on the financial arm of the organization that collaborates with the private sector in the region.

The Assemblies of Governors of the IDB and IDB Invest serve as the highest decision-making bodies of the IDB Group, consisting of finance and economy ministers and other senior officials from member countries.

The meeting begins with seminars featuring speakers such as Ecuador’s Minister of Economy Juan Carlos Vega, Enel’s Director Aurelio Bustilho de Oliveira, and Brazil’s Minister of Planning Ursula Dias. Discussions will cover a range of topics, from addressing climate change to achieving sustainable growth and reducing inequality in the region.

Following the seminars, governors will engage in intense discussions on how the IDB Group can enhance its support for the region in addressing growing social demands and financing the transition to sustainable economies.

Governors plan to propose increased capital for IDB Invest and new funds for IDB Lab, the IDB’s innovation laboratory. Ilan Goldfajn, the current president of the bank, will inaugurate the assembly, with the meeting concluding with the presentation of the region’s annual macroeconomic report.

Founded in 1959, the IDB serves as a major source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. In addition to funding, it conducts research projects, offers policy advice, technical assistance, and training to clients in the public and private sectors throughout the region.

On the other hand, IDB Invest, established as a multilateral development bank, finances sustainable companies and projects to achieve financial results while maximizing economic, social, and environmental development in the region.