IDB, CEOs launch historic partnership for Caribbean recovery

The president of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, has collaborated with a coalition of 40 global corporate executives to launching a historic partnership to aid Latin America and the Caribbean’s recovery from the effects of the COVID-19 pandemic. 

Claver-Carone recently hosted the inaugural “Private Sector Partners Roundtable on the Future of Latin America and the Caribbean.”

Meeting as a coalition, the business leaders pledged to work together in three areas that will be critical to post-pandemic economic recovery: empowering women, accelerating digitalisation, and strengthening regional value chains, according to the IDB. 

The Washington-based financial institution said the leading private-sector executives discussed the historic challenges and the unique opportunities to drive growth and investment in the region. 

The IDB said that Latin America and the Caribbean has been hit harder by the pandemic than any other region, adding that it “deserves a robust response.” 

The IDB said the business leaders signed a “Partnership Declaration” and pledged to work with the IDB to mobilise resources in these three critical areas. 

“The meeting is the start of an intensified effort to strengthen collaboration between the IDB and top private-sector companies to promote investment and create the type of jobs that will help the region’s post-pandemic economy thrive,” said the IDB, stating that this is the first in a series of collaborations that the IDB plans to host with the private sector. 

“When I look at Latin America and the Caribbean, I see a region brimming with opportunities – but it is time to turn rhetoric into action,” said Claver-Carone, stating that the gathering with leaders from 40 of “the world’s most innovative global and regional companies, and the signing of this historic ‘Partnership Declaration’, enshrines our shared vision and an action plan for future investment, growth and prosperity in our countries. 

“I look forward to working with every one of these companies and incorporating them into our work stream to help generate job creation and sustainable economic development,” he added. 

Following the coalition event, the IDB said it is now convening “action-oriented working groups” with corporate partners to solidify partnership opportunities in each of the priority areas identified.

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