SEVILLE, Spain, CMC – The Inter-American Development Bank (IDB) said on Wednesday that it has signed a cooperation agreement with the European Investment Bank (EIB) to increase financing and deliver a more substantial development impact in Latin America and the Caribbean.
“This agreement demonstrates what multilateral development banks can achieve when they act in a coordinated manner: aligning instruments, mobilizing capital, and accelerating results. With the EIB, we are also strengthening ties between Europe and Latin America and the Caribbean, while generating impact on the ground,” said IDB President Ilan Goldfajn.
EIB President Nadia Calviño said, “Europe stands with Latin America and the Caribbean. With this agreement, we are reinforcing our strategic partnership, which is key to the development of our projects and to achieving greater impact on the ground”.
The IDB stated that the agreement signed during the ongoing Fourth International Conference on Financing for Development (FFD4) reflects a shared commitment by both institutions to work more closely and effectively as a system to increase resource mobilization for financing sustainable development in Latin America and the Caribbean.
It also stated that it strengthens the European Union-aligned financing pipeline under the European Union’s Global Gateway, helping to convert priorities into tangible results on the ground in Latin America and the Caribbean.
The partnership aims to scale up joint financing through increased co-financing, including joint sovereign-guaranteed operations such as Results-Based Loans in priority sectors, as well as mobilizing private capital by streamlining collaboration on non-sovereign operations and scaling financial innovations, such as blended finance, de-linked guarantees, and co-guarantees, to reduce risk and attract investment.
In addition, the partnership aims to strengthen system-wide collaboration by exploring exposure exchange agreements, expanding mutual reliance beyond procurement to encompass environmental and social standards and results frameworks, and promoting staff exchanges to deepen operational alignment.
It will also align European resources with the priorities of Latin America and the Caribbean by translating Global Gateway objectives into actionable pipelines and maximizing the impact of EU funding across the region.
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