Business & Economy

Climate crisis and inequality, key issues at IDB annual meeting in Dominican Republic

Punta Cana (Dominican Republic), Mar 5 (EFE)-. The Inter-American Development Bank (IDB) is to begin Wednesday in Punta Cana its annual meeting during which the financial authorities of the organization’s member countries will analyze key issues for the region such as the climate crisis and inequality.

Economic and financial leaders from the bank’s 48 member countries and the private sector will discuss during the six-day event development challenges and opportunities in Latin America and the Caribbean, from addressing climate change to ensuring equitable and sustainable growth and reducing poverty and inequality.

The meeting, which is to take place at the Barceló Bávaro Convention Center, is to be IDB’s 64th Annual Meeting of the Board of Governors, which is to be held concurrently with the 38th Annual Meeting of Board of Governors of IDB Invest, the organization’s financial arm, which works with the private sector in the region.

The IDB and IDB Invest Boards of Governors are the highest decision-making bodies of the IDB Group and are made up of the finance and economy ministers and other senior officials from member countries.

The event is to begin on Wednesday with a series of seminars, in which speakers including academics, political figures and analysts from different countries in the region are to discuss wide ranging topics that affect the region.

Among the speakers are Ecuador’s Minister of Economy, Juan Carlos Vega, Enel Americas CEO Aurelio Bustilho de Oliveira, and Brazil’s Minister of Planning, Ursula Dias.

The seminars are to be followed by intense days of discussions among IDB governors on how the IDB Group can support the region more to address “growing social demands” and to finance the transition to sustainable economies.

In turn, the governors plan to address a proposed capital increase for IDB Invest and new funding for IDB Lab, the bank’s innovation laboratory.

The assembly is to be opened by Ilan Goldfajn, who has been the bank’s president for the past year, and the annual macroeconomic report for the region is expected to be presented at the end of the meeting.

Founded in 1959, the IDB is one of the main sources of long-term financing for economic, social and institutional development in Latin America and the Caribbean.

It also conducts cutting-edge research projects and provides policy advice, technical assistance and training to public and private clients throughout the region.

IDB Invest is a multilateral development bank that finances companies and sustainable projects to achieve financial results and maximize economic, social and environmental development in the region. EFE

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EFE is a media partner of the IDB’s Annual Meeting and will distribute content on the event.

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