WASHINGTON, D.C. – The U.S. International Development Finance Corporation (DFC) Deputy Chief Executive Officer (DCEO) Nisha Biswal and IDB Invest Chief Executive Officer (CEO) James P. Scriven announced today at the Americas Partnership for Economic Prosperity meeting of foreign ministers up to $30 million toward a new initiative that will accelerate international development projects in countries throughout Latin America and the Caribbean and sustain the positive effects they deliver.
The new technical assistance facility is the result of innovative cooperation between DFC and IDB Invest and will be available to any project developed under the shared Americas Partnership Platform. It will expand the pipeline for new projects and support those under consideration to meet rigorous criteria for DFC-IDB Invest financing. For projects that have already received investments, the facility will offer guidance to maximize economic growth and ensure they align with DFC and IDB Invest’s strategic objectives, such as environmental and social sustainability.
The new facility serves as just one example of how DFC is playing an integral role in building a prosperous and competitive Western Hemisphere through its work across the region, individually and in partnership with the Inter-American Development Bank.
“In establishing this dedicated technical assistance facility, DFC is committing the manpower and resources necessary to ensure the success of the Americas Partnership,” said DFC DCEO Nisha Biswal. “Together, DFC and IDB Invest are building new financial tools and expanding a critical partnership that will help fuel economic growth across Latin America and the Caribbean.”
“Our partnership with DFC is critical to our strategy of greater impact for the region,” said IDB Invest CEO James P. Scriven. “We are keen to see our collaboration grow from strength to strength, and this technical assistance facility is a core part of our combined efforts to move forward our common goals. At IDB Invest, we anticipate that our collaboration will contribute to economic prosperity in Latin America and the Caribbean, while adhering to our robust sustainability benchmarks.”
The new investment represents a strategic response to the need for more support in project development in the region. And it serves as a tangible demonstration of the United States’ commitment to and the growing importance of the Americas Partnership.
DFC and IDB Invest launched the Americas Partnership Platform at the Americas Partnership Leaders’ Summit in November 2023. They have since then been working together to meet the goals of the Americas Partnership; strengthen regional integration, cooperation, and competitiveness; and facilitate the availability of development financing for the private sector.
DFC’s exposure in Latin America is over $9 billion – accounting for almost a quarter of its global portfolio.
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The U.S. International Development Finance Corporation (DFC) partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, infrastructure, agriculture, and small business and financial services. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.