News
How does LACIF contribute to the reinforcement of health systems in Latin America and the Caribbean?
The Covid-19 crisis demonstrated the crucial role of multilateral institutions on health, prosperity and security at a global scale and the relevance of international partnerships to respond to such an unprecedented global emergency. International cooperation and solidarity is key in building resilience for future pandemics which requires increased research and more investments in healthcare infrastructure, medicine production and institutional capabilities.
The European Union is investing more than EUR 52 million in the country through LACIF, and thus leveraging an investment that exceeds EUR 1 billion.
Government of Dominica signs new agreement for development of geothermal power plant.
LACIF provided EUR 2 million for technical assistance to the Government of the Commonwealth of Dominica. The studies and drillings conducted have demonstrated the high geothermal potential and the construction of a power plant has recently been agreed.
eco.business Fund, advised by Finance in Motion, has announced it is extending a USD 20 million loan equivalent in local currency to Caja Arequipa, a Peruvian financial institution that lends to low-income individuals in rural provinces where agribusinesses have a significant environmental and social impact. The loan is part of a USD 50 million loan equivalent in local currency to Caja Arequipa structured by IDB Invest, the private sector arm of the IDB Group.
The Comprehensive Tourism and Urban Development Program of the Colonial City of Santo Domingo, or Revitalization Program, launched the Housing Improvement Program in the Colonial City (Promevi) in order to rehabilitate homes in poor conditions.
LAGreen Fund, Latin America’s premier green bond fund advised by Finance in Motion and Santander Asset Management, is making its inaugural investment of USD 10 million in a green bond issued by the Corporación Interamericana de Financiamiento de Infraestructura (CIFI), a financial institution dedicated to providing debt financing for mid-sized green infrastructure projects in Panama and the region.
A new technical assistance facility for the Caribbean Sustainable Water Management and Clean Oceans programme was launched in October. The facility, which is funded by an €8.5 million grant from the Caribbean Investment Facility (CIF) will provide specialist technical support
LAGreen is supported by an EU LAIF contribution of €16,050,000 and its expected investment size amounts to over €450 million. The Fund has already invested in Costa Rica, Mexico, Ecuador and Peru as well and the Technical Assistance Facility funded by the EU has approved 17 projects in 13 countries, including training sessions on green bonds for the financial sector, support to new issuers to prepare green bonds and post issuance support.
Through the signing of two agreements, it is expected to strengthen 183 direct and indirect beneficiaries, increasing their capabilities in the circular economy, as well as accelerating their businesses.
The DINAMICA II Initiative is a tripartite effort with the aim of improving business services and strengthening the technical capabilities of MSMEs in El Salvador. Technical Assistance agreements total US$194,900.
The LACIF Technical Assistance visited the Post Earthquake Reconstruction project in Ecuador, on June 27 th 2023.
