On May 30^th, the Inter-American Development Bank Group (IDB Group) launched the IDB for the Americas program in Europe, with the objective of strengthening economic ties and promoting business opportunities between European countries and Latin America and the Caribbean. The launch event was held at the Casa de América in Madrid and was attended by more than 200 European business leaders, government officials and diplomats.

Program objectives

The main purpose of the IDB for the Americas is to present acquisition, trade, investment and co-financing opportunities to companies from the European member countries of the IDB Group. The program seeks to connect European companies with business opportunities in Latin America and the Caribbean, taking advantage of an innovative and cutting-edge platform.

Economic context

In 2022, bilateral trade between IDB member countries in Latin America and the Caribbean and IDB member countries in Europe will reach €305 billion. Of this total, 143 billion euros corresponded to European exports to the region. Furthermore, foreign direct investment (FDI) flows from Europe to Latin America and the Caribbean have averaged 30 billion euros annually over the last five years.

Participation of Leaders and Discussion Panels

The event in Madrid was attended by Ilan Goldfajn, president of the IDB; Carlos Body, Minister of Economy, Commerce and Business of Spain; and Nadia Calviño, president of the European Investment Bank. During the event, panel discussions focused on three key areas: sustainable regional infrastructure, digitalization and inclusion, and clean energy.

Workshops and Resources for European Companies

As part of the launch, the IDB Group organized a series of workshops aimed at European trade and investment promotion agencies and business associations. These workshops delved into the various tools and resources that the BID for the Americas program offers to bring European companies closer to the region.

IDB Impact and Procurement Opportunities

In 2023, the IDB Group, which includes the IDB, IDB Invest and IDB Lab, approved more than US$24 billion in financing and resource mobilization for the sustainable and inclusive development of Latin America and the Caribbean. During the event, a Project Procurement Bidding Summary was presented, which includes more than 70 procurement opportunities for European companies in sectors such as health, water, energy, transport, agriculture and digital infrastructure. The IDB annually finances an average of US$4.4 billion in project acquisitions, generating more than 12,000 contracts.

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