IDB urges Latin America to take advantage of the “opportunity” of the energy transition

The president of Inter-American Development Bank (IDB)the Brazilian Ilan Goldfajnstated this Tuesday that Latin America and the Caribbean, despite their fiscal problems, are at “the center of the opportunities” offered by the energy transition.

“Latin America and the Caribbean “They continue to face challenges,” with “a growing demand for social improvements along with fiscal restrictions throughout the region”said Goldfajn at the opening of an investment forum being held in Brasilia, headed by Brazilian President Luiz Inácio Lula da Silva.

He pointed out that “the generation of resources has been slow” throughout the region, among other factors due to “the socioeconomic impact of climate change”which although hinders the development of the entire region, also represents a “unique opportunity”.

According to the president of the IDB, the “extraordinary” wealth of Latin America and the Caribbean in terms of “nature and diversity” can be part “of the solution to global challenges”, that impose a change in production and consumption models.

“The world needs Latin America”which is located now “at the center of opportunities” and can be erected in a position of “leadership” in the generation of clean energy and sustainable production supported by its vast natural resources.

Goldfjan highlighted in particular Brazil’s role as one of the world’s largest producers of food and raw materials, and that “has the opportunity to be a power in the low-carbon economy, both in the Amazon as in its other biomes.”

The Brazil Investment Forum (BIF), which reaches its sixth edition, has been organized by the state-run Brazilian Export and Investment Promotion Agency (ApexBrasil) and the Inter-American Development Bank (IDB).

The event brings together government authorities, Brazilian and foreign businessmen operating in the country and experts from public and private institutions who will debate various issues, such as sustainable development, food security, innovation, technology, industrialization and energy transition, among others.