The Governors of the member countries of the Inter-American Development Bank (BID) of the Central American Isthmus and the Dominican Republic hold their 36th annual meeting in Belize on February 20 and 21.
In his first meeting with the Governors of this region, the new president of the BID, Ilan Goldfajn, had the opportunity to present his vision for increasing the Bank’s contribution to the development of the countries, as well as listen to their perspectives on the priorities that should guide the schedule for the coming years. The work sessions, in which BID experts and invited specialists participate, open a dialogue to evaluate the current international context, the challenges to generate a more inclusive and sustainable growth, and identify policy options that allow addressing the short-term challenges. medium term. The meeting is held in preparation for the Annual Meeting of the BID and BID Invest, which will take place from March 16 to 19 in Panama.
According to the latest report on BID activities, Generation of opportunities and greater resilience: priorities for a sustainable recovery, the region of Central America and the Dominican Republic presents a slightly faster economic recovery than in other countries in Latin America and the Caribbean. driven by the revitalization of the tourism sector, remittances and exports of agricultural products. However, the increase in food prices makes it difficult to continue the downward trend in the poverty rate and is accentuating the situation of food insecurity.
The new president of the BID highlighted during his speech that, in a context of increasingly frequent and deepening crises, the Central American Isthmus and the Dominican Republic must bet on prioritizing policies that promote resilience with the well-being of people as the central axis . “At the BID Group we will boost our support to effectively address the obstacles to sustainable and inclusive growth,” said President Goldfajn. “We are going to advance in areas of social development, increasing our efforts to reduce poverty and food insecurity. We will help countries address climate change and invest in sustainable infrastructure, and we will improve natural disaster risk management. It is important to work together with the private sector to mobilize resources and support the development of the region”.
Contribution to the Sustainable Development Goals
In 2022, the countries of Central America, Panama, and the Dominican Republic received financing from the BID Group worth US$4,166 million. This work has allowed the BID to continue deploying its support to the region, prioritizing activities to strengthen income generation for the poorest, reduce gaps in quality and access to basic services, increase the productivity of small and medium-sized enterprises (SMEs), improve the efficiency of the public sector and advance the climate change mitigation and adaptation agenda, actions that have contributed to the Sustainable Development Goals.
During the last six years, and in its work together with the public sector, thanks to the support of the BID Group, 24 million people have seen health care improve in this region, 7.5 million students have benefited from education projects, Nearly 800,000 households have access to water and sanitation or energy, and 98,000 SMEs have received financing.
Regarding the private sector, President Goldfajn stressed to the governors his commitment to continue improving the value proposition of the BID Group. BID Invest supported the productive fabric and employment, especially in SMEs and their distribution chains, as well as the facilitation of foreign trade.
For its part, BID Lab, the institution’s innovation laboratory, focused its efforts on the financial inclusion of vulnerable groups, the digitization of mypimes, and training and employment programs.
For more information on the BID Group in the Central American Isthmus and the Dominican Republic, download the 2022 Activities Report here.
About the BID Group
The BID Group is the main source of financing for the development of Latin America and the Caribbean. The Group helps improve lives by providing financial solutions and development insights to clients in both the public and private sectors. The Group is made up of the BID, which has worked with governments for more than 60 years; BID Invest, which collaborates with the private sector; and BID Lab, which experiments with innovative ways to drive more inclusive growth.
