IDB, UK launch Sustainable Infra Program

The Inter-American Development Bank (IDB) and the UK government have established a new initiative designed to boost sustainable infrastructure in Latin America and the Caribbean.

With an initial cash injection of £177m from the UK's Department for Business, Energy and Industrial Strategy, the Sustainable Infrastructure Program (SIP) will work to accelerate sustainable infrastructure in the region by encouraging greater private sector investment in projects.

According to IDB Invest, the private sector arm of the IDB, an innovative aspect of the SIP is that it can “provide a wide range of instruments – including grants for technical cooperation and blended finance for loans, equity and guarantees – to fully address barriers to private investment, and respond flexibly to borrowing countries’ priorities and needs”.

“We welcome this partnership as an excellent example of how to mobilize resources to finance infrastructure that is sustainable, low carbon and climate resilient,” said IDB President Luis Alberto Moreno.