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Financing a Sustainable Future

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Financing a Sustainable Future FINANCING A SUSTAINABLE FUTURE 2019 Partnership Report Contents A letter from IDB President Luis Alberto Moreno 1 A letter from IDB President Dear partners and friends, Luis Alberto Moreno The year 2019 was full of milestones for the Inter-American Development Bank (IDB). As we celebrated our 60th anniversary, prompting us to About this Report TRENDS reflect on how far we’ve come over the last 60 years and what we hope In 2019, the Inter-American Development to accomplish in the next few decades, we also closed out the decade Bank (IDB Group) closed out the decade 4 Unlocking Capital to Achieve the with a reinvigorated commitment to partnerships as a key tool for with a strong focus on partnerships as a Sustainable Development Goals improving lives. tool for amplifying development impact and generating measurable results in Latin 12 Leveraging Knowledge as Capital Such partnerships are now central to IDB’s work; in 2019, we broke all previous resource mobilization America and the Caribbean. Recognizing for SDG Implementation records, mobilizing more than $4 billion from a diverse group of partners committed to advancing the spirit of urgency presented in the United development and creating value in our region. And equally important, as requested by our Board 20 Preparing LAC for Success in the Nations Sustainable Development Agenda of Governors, we updated our institutional strategy, adding a new pillar reflecting our belief that Digital Age and doubling down on its commitment to resource mobilization from partners and investors is an essential vehicle for development. finance the Sustainable Development Goals 24 Inclusion Across Borders: I strongly believe this renewed emphasis on the power and necessity of collaboration will help ensure (SDGs) by 2030, the IDB Group sought to Tackling Migration Challenges that the development we support in our countries will be both more sustainable and inclusive. further mainstream its focus on “inclusive 32 Continuing to Mainstream partnerships built upon principles and values, Gender and Climate While we achieved a great deal in 2019, frustration over inequality across several countries in the a shared vision, and shared goals that place region provided a sobering reminder that our mission is more important today than ever before. people and the planet at the center,” as We face complex challenges including unprecedented migration flows, as new studies indicating embodied in SDG #17. In this sense, through IN THE SPOTLIGHT that climate change is happening faster than expected add urgency to adaptation and mitigation the Office of Outreach and Partnerships initiatives. Meanwhile, though our governments are ramping up efforts to implement the United (ORP), the IDB Group continued working 38 IndexAmericas: Building a Bridge Nations’ Sustainable Development Goals (SDGs), public resources remain insufficient to achieve them across the many divisions housed within Between SDG Investing and before the 2030 deadline. the IDB, its private sector entity IDB Invest, Corporate Sustainability and its innovation laboratory IDB Lab to Taken together, these challenges seem daunting. But our experience shows that we can unlock novel forge new alliances, strengthen existing ties, solutions by closely coordinating with governments, developing creative strategies for mobilizing harness partner knowledge and innovation, ACTIONS private capital, and finding new ways to engage philanthropists, corporations, and other actors. and unlock private capital to advance the 40 Infrastructure More than a decade ago, we created the Office of Outreach and Partnerships (ORP) to boost exactly SDGs in Latin America and the Caribbean. In this type of collaboration. Since then, ORP has become critical to the IDB and I proudly consider it a the pages of this report, you will learn about 56 Social Progress key part of our work. what the region must do to achieve the SDGs 68 Making Sustainability Happen by the 2030 deadline, the region’s evolving I am confident it will continue to help us amplify our impact in the region, especially as our countries development challenges and opportunities, 81 Strengthening Institutions work to reduce inequality, finance the SDGs, and meet their commitments to the Paris Climate and the IDB Group’s strategic use of Agreement. partnerships to improve lives. 87 Powering Businesses and Fostering Trade I hope that, in reading the pages in this report, you too will recognize the power of partnerships to improve lives. As we focus on 2020, we at the IDB are driven by a belief that through teamwork and collaboration we can accomplish almost anything, together. We hope you’ll join us. FUNDS AND FINANCIALS Yours sincerely, 94 Driving Development Progress through Multi-donor Funds 96 Financials Luis Alberto Moreno President, Inter-American Development Bank IDB 2019 Partnership Report 1 About the IDB Group When all is said and managers and other industry leaders are joining The IDB Group is the leading source of development finance for Latin America and the Caribbean (LAC). It helps to improve lives by providing financial solutions and done, it might well us to facilitate private investment in high-impact development know-how to public and private sector clients. The group comprises be that the very last projects that generate returns and advance SDG the IDB, which has worked with governments for 60 years; IDB Invest, which of the 17 Sustainable progress in the region. serves the private sector; and IDB Lab, which tests innovative ways to enable more Development We took further encouragement from our inclusive growth. Goals (SDGs) — Donors Forum in October 2019, which gave emphasizing the us the chance to dive deeply into the region’s About the IDB importance of partnerships — will have had the key challenges, and thereby shine the light on most profound impact in driving the overall emerging opportunities for our partners to The Inter-American Development Bank (IDB) is a leading source of long-term success of the 2030 Agenda. financing for economic, social, and institutional projects in Latin America and the leverage their core businesses and innovative Caribbean. Besides loans, grants, and guarantees, the IDB conducts cutting-edge To be sure, this was foretold in the United approaches to fulfill the 2030 Agenda. research to offer innovative and sustainable solutions to our region’s most pressing Nations’ vision that “cross sectorial and From our #SinDesperdicio collaboration with challenges. Founded in 1959 to help accelerate progress in its developing member innovative multi-stakeholder partnerships will global businesses to confront food waste, to the countries, the IDB continues to work every day to improve lives. www.iadb.org play a crucial role for getting us to where we 21st Century Skills Coalition that seeks to ensure need by the year 2030.” It is an idea that is citizens are ready to succeed in the digitally- close to our hearts here at the Inter-American About IDB Invest driven economy, among many others, we are Development Bank. IDB Invest, a member of the IDB Group, is a multilateral development bank justifiably proud of the impact our alliances committed to promoting the economic development of its member countries in We have long embraced the notion that have had. Our partners are showing the world Latin America and the Caribbean through the private sector. IDB Invest finances collaboration among organizations, enterprises, how, through collaboration, we can secure the sustainable companies and projects to achieve financial results and maximize and government institutions in Latin America leadership, resources, and smarter solutions we economic, social, and environmental development in the region. With a portfolio and the Caribbean — along with others need to achieve the Sustainable Development of $12.4 billion in asset management and 342 clients in 24 countries, IDB Invest worldwide who have an interest in the future of Goals. provides innovative financial solutions and advisory services that meet the needs the region — can make all the difference when it As we close out the decade, our record of of its clients in a variety of industries. comes to sustainable development outcomes. www.idbinvest.org building effective, impactful partnerships across Not only do we believe this, but we live it the region is one that speaks for itself. But now About IDB Lab every day. And we are determined to make the is the time to speak louder and more forcefully. IDB Lab is the innovation laboratory of the IDB Group, the leading source of most of it as we begin a “Decade of Action” to And to do that we need your voice. deliver the 2030 promise. From the financing development finance and know-how for improving lives in Latin America and Consider this your invitation to partner with the perspective, we are delighted to have pushed the Caribbean. The purpose of IDB Lab is to drive innovation for inclusion in the IDB as we build a better future. region by mobilizing financing, knowledge, and connections to co-create solutions our collaborations into new areas that have capable of transforming the lives of vulnerable populations affected by economic, motivated corporations and institutional Bernardo Guillamon social, or environmental factors. Since 1993 IDB Lab has approved more than investors to join the effort. In particular, we are Manager $2 billion in projects deployed across 26 LAC countries. www.idblab.org highly encouraged that the world’s largest asset Office of Outreach and Partnerships (ORP) In
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