Climate crisis and inequality, keys to the IDB Assembly in the Dominican Republic

He Inter-American Development Bank (IDB) starts this Wednesday in Punta Cana its annual meeting in which the financial authorities of the member countries of the organization will analyze key issues for the region such as climate crisis wave inequality.

The event will last six days and will bring together economic and financial leaders and representatives of the private sector from the 48 member countries of the regional development bank.

Economic and financial leaders from the Bank’s 48 member countries and the private sector will discuss 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 assembly will take place at the Barceló Bávaro Convention Center and will be the 64th edition of the Annual Meeting of the IDB Board of Governors, which will be held simultaneously with the 38th edition of the IDB Invest Board of Governors, the financial arm of the organization, which works with the private sector in the region.

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

The assembly will begin on Wednesday with a series of seminars, in which speakers including academics, political figures and analysts from different countries in the region will discuss topics ranging from how to address climate change to what to do to achieve equitable and sustainable growth and reduce inequality in the region.

Among the speakers at these conferences are the Minister of Economy of Ecuador, Juan Carlos Vega, the director of the energy multinational Enel, Aurelio Bustilho de Oliveira, and the Minister of Planning of Brazil, Ursula Días.

Following these seminars, intense days of discussions will begin between IDB governors where they will address how the IDB Group can increase its support to the region to address the “growing social demands” and to finance the transition to sustainable economies.

In turn, the governors plan to address a proposal to increase capital for IDB Invest and new funds for the IDB Lab, which is the IDB’s innovation laboratory.

The Assembly will be inaugurated by Ilan Goldfajn, who has held the presidency of the bank for a year, and at the end of the meeting the presentation of the region’s annual macroeconomic report is expected.

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

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