IDB Group Presents its New Value Proposition

Published by BBNTEAM at March 5, 2022

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Posted: Saturday, March 5, 2022. 9:25 am CST.

By Aaron Humes: The Board of Governors of the Inter-American Development Bank (IDB) has presented a new formula for evaluating the need for IDB resources toward fomenting sustainable and inclusive growth.

These are Social Inclusion Agenda + Private Sector Investment + Climate Action – the social pillar that puts inclusion at the heart of the growth strategy, the private-sector pillar that supports the private sector and micro, small and medium enterprises (MSME) as engines to accelerate economic growth, and the climate change pillar which reaffirmed the incorporation of climate action in all growth strategies. The value proposition aligns closely with Belize’s vision and objectives, and it is noted that Belize is already making substantial headway towards a majority of the pillars.

Belize’s delegation, headed by Christopher Coye, Minister of State in the Ministry of Finance, Economic Development, and Investment, joined by CEOs Dr. Osmond Martinez and Narda Garcia, also held a bilateral meeting with Mauricio Claver-Carone, IDB President, to discuss the bank’s program with Belize. Belize presented its own proposals in response to the bank’s evaluations to reflect the needs of the country.

The delegation’s presentation highlighted the considerations for small island, low-lying coastal states like Belize that would benefit from the continuation of IDB’s technical support and specialized initiatives. It also brought forth the need for decisive and meaningful investment in countries of the Americas that helps countries manage high debt in a sustainable manner. Belize also shared its support for the increased collaboration between the IDB, IDB Invest and IDB Lab, and advocated for the IDB private sector windows to play a more significant role than only investing where no other local institution invests.

Finally, Belize reaffirmed its commitment to Vision 2025 and strongly supported the IDB Group’s New Formula for the 21st Century.

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