Barbados is among several Latin American and Caribbean nations poised to benefit from a new strategic alliance between the Inter-American Development Bank (IDB), its private-sector arm IDB Invest, and the OPEC Fund for International Development.
The three institutions have signed a memorandum of understanding (MOU) aimed at unlocking co-financing opportunities in critical sectors across the region. These sectors include infrastructure, renewable energy, sustainable transportation, climate resilience, social infrastructure, agriculture, and biodiversity preservation.
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The agreement, signed last Thursday, outlines a framework for collaboration that will focus on both sovereign and non-sovereign operations. It also includes provisions for delivering technical assistance to support development projects. According to the institutions, this partnership is designed to identify early-stage co-financing and parallel financing opportunities that can maximize developmental impact.
Barbados, along with Chile, Colombia, Panama, Paraguay, Peru, Mexico, and Uruguay, has been identified as a priority country for joint investment exploration between 2025 and 2027.
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As part of the initiative, a technical assistance facility will be established to serve both public and private sector needs. In the public sector, this will focus on project preparation and strategic support in targeted industries. For the private sector, the facility will enable the joint delivery of advisory services to clients aiming to align with sustainable development goals.
This collaboration marks a significant boost for the region’s development financing landscape and is expected to catalyze investment in long-term, sustainable projects.
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