World
World Bank and IDB to scale up development initiatives across Western Hemisphere
The World Bank and Inter-American Development Bank (IDB) said on Thursday that they plan to deepen their cooperation on Western Hemisphere development efforts, including preserving the Amazon rain forest, Caribbean disaster resilience and digital access across Latin America.
For the latest headlines, follow our Google News channel online or via the app.
The four-year agreement to be signed on Thursday, makes good on a pledge that World Bank President Ajay Banga and IDB President Ilan Goldfajn made in June, during a joint trip to Peru and Jamaica, to collaborate more and compete less on projects as both institutions seek to scale up financing for development and to fight climate change along other global crises.
The two development banks said a memorandum of understanding calls for the two institutions to cooperate in the planning and execution of programs and activities in “areas of common interest,” and collaborate on research, conferences, training seminars and dissemination of information.
They also agreed to collaborate on ways to join with other entities, including the private sector, to leverage resources and pursue similar goals.
Read more:
Climate change may increase conflict deaths in fragile, war-torn states, says IMF
World Bank, WTO chiefs call to revive services trade talks in order to reduce poverty