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LONDON, March 2, 2023 /PRNewswire/ -- IDB Invest welcomed the United Kingdom as its 48th member country. The official declaration of membership was signed during a joining ceremony led by UK Development Minister Andrew Mitchell, Inter-American Development Bank (IDB) President Ilan Goldfajn and IDB Invest CEO James P. Scriven .
The announcement follows a long-standing relationship with the IDB. Since 1976, the UK has been a member of the IDB, and its admission to IDB Invest reinforces its commitment to further development in Latin America and the Caribbean through the private sector.
In 2017, IDB, IDB Invest and the UK created the UK Sustainable Infrastructure Program (UK SIP), a £177.5m trust fund, mobilizing private investment to scale up climate action to support developing countries. the countries of Paris.
"Attracting new investors to Latin America and the Caribbean can help us address shared global challenges such as food insecurity and the need for clean energy," said IDB President Ilan Goldfajn. "Our continued partnership with the UK government represents an important step in increasing sustainable and inclusive growth in our region."
"We want to connect global investors to sustainable development in Latin America and the Caribbean, to ensure that we can have a real impact on people's lives," said James P. Scriven, CEO of IDB Invest. "We are pleased to see that the UK has joined IDB Invest and we look forward to mobilizing further investment to scale up climate action, gender equality and sustainable infrastructure."
About IDB
The Inter-American Development Bank is dedicated to improving lives. Established in 1959, the IDB is a leading source of long-term financing for economic, social, and institutional development in Latin America and the Caribbean. The IDB also conducts cutting-edge research and provides policy advice, technical assistance, and training to public and private sector clients throughout the region. Access our virtual tour.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region. With a $15.3 billion portfolio in asset management and 375 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.
Press contact: Ana Escudero analuciae@iadb.org
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