The Multilateral Investment Guarantee Agency of the World Bank (MIGA) and IDB Invest, the private sector arm of the Inter-American Development Bank Group, announced a historic four-year partnership to mobilize more private sector capital in Latin America and the Caribbean. MIGA, the political risk insurance agency of the World Bank, and IDB Invest have agreed to combine and deploy risk-shifting and financing solutions in the region.

The cooperation agreement calls for regular engagement between the two institutions to develop a shared pipeline of projects. This will expand the number of bankable projects and deepen the relationship between the two institutions and potential private sector investors. The collaboration is expected to significantly impact the region’s development, recognizing the crucial role of the private sector in driving economic growth and reducing poverty.

Source: MIGA