The IDB sees the greatest public-private success story in vaccines

The president of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, considers that the vaccines against COVID-19 are the greatest success in the history of public-private collaborations, and a good example to follow for this type of associations in Latin America and the Caribbean.

In an interview with Efe at the IDB headquarters in Washington before the PPP Americas 2021 forum, which will take place on December 9 and 10 in São Paulo (Brazil), Claver-Carone highlighted that these collaborations are beneficial for governments , companies and citizens, and gave vaccines as an example.

“We are at a time in history where the only reason we are emerging from this pandemic is the largest public-private partnership in the history of mankind, which is vaccines.”Explained the president of the multilateral bank.

The main vaccines against COVID-19 in the United States (Pfizer, Moderna and Johnson & Johnson) were developed by large pharmaceutical companies, but with great financial and regulatory support from the federal government at all times.

“For governments, particularly in these times of pandemic when they have had to increase their spending to respond to the needs of the population, collaboration with the private sector is very beneficialClaver-Carone assured.

The head of the IDB referred to the financial difficulties faced by governments around the world, especially in the Latin American and Caribbean region, and raised the participation of companies as the most financially sustainable way to create investments in infrastructure.

“Every dollar that countries invest in infrastructure returns two dollars in GDP growth, but each project carried out solely by the state loses one of every two dollars invested and becomes totally useless”, He assured.

During the two days of the PPP Americas forum, which this year will have a mixed virtual and face-to-face format (with about 150 participants in person at the Palacio dos Bandeirantes in São Paulo), Claver-Carone will emphasize the importance of partnerships between Governments and companies for economic recovery after the crisis caused by COVID-19, and the role that the IDB plays as a mediator in these collaborations.

For this, it will count on the interventions of dozens of international experts who will share their experiences and propose strategies to plan, design and operate infrastructure and service projects to strengthen the regional integration of Latin America and the Caribbean.