Climate at the heart of the deepening partnership between the EIB and Inter-American Development Bank
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- Date: 12 October 2018
A partnership focused on supporting projects to promote climate action and attract private investment. That’s what marks the work the EIB and IDB are doing together in Latin America and the Caribbean: from a new metro system in Bogota to the post-disaster climate resilient reconstruction in Haiti. This focus on clean transport, resilient and green infrastructure as well as renewable energy was the main theme of discussions this week between the two delegations on the margins of the IMF/WBG annual meetings in Bali.
The IDB and EIB Presidents Luis Moreno and Werner Hoyer were joined by EIB Vice-Presidents Emma Navarro – responsible for lending in Latin America – and Ambroise Fayolle – in charge of development policy.
Vice-President Emma Navarro said after the discussions: “This is an extremely important partnership. And our meeting confirmed that it is going from strength to strength. The EIB and IDB have a common understanding of the challenges ahead and what is crucial is that we are learning from each other as institutions as to the kinds of solutions that are needed to meet these challenges.”
Head of Global Partners Maria Shaw Barragan, who also took part, added: “Meeting with our fellow Multilateral Development Banks is really valuable. The annual IMF/WBG meetings give us a chance to do that and to build on each other’s strengths. For example, the local presence of the IDB in the region, combined with the EIB’s expertise in financial instruments and experience dealing with global challenges like displaced populations, make this a precious collaboration.”