The Inter-American Development Bank (IDB) and its private-sector arm, IDB Invest, achieved a record of nearly US$23.4 billion in new financing approvals, commitments and private-sector mobilisations, beating previously reported initial estimates for financial assistance to Latin America and the Caribbean in 2021.
The figure reflects additional and updated numbers, including commitments and mobilisations, partnerships, and grants to Haiti. The new record includes IDB Invest’s mobilization of more private funding in 2021 – almost US$3 billion – than during any year in its history.
The total also includes record or near-record levels of IDB funding approvals in priority areas for the region’s recovery and sustainable, inclusive growth, including health and the COVID-19 response, climate change, supply chains and digitalisation.
The IDB and IDB Invest reported in December that they expected combined approvals and commitments for 2021 to total nearly $20 billion, and $22.3 billion when including IDB Invest’s mobilisation figures.
The updated US$3 billion mobilisation figure for IDB Invest replaces the previous estimate of US$2.8 billion.
Combined with revised commitment figures from IDB Invest and newly included financing by the IDB and IDB Lab, the 2021 total amounts to the largest sum of funding ever posted by the institutions in a given calendar year.
Highlights from the IDB’s financing include a record amount of funding for climate-related projects (US$4.5 billion) and a record level of financing to strengthen regional supply chains (US$2.3 billion). (PR)
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