Insights from the President of the IDB

Goldfajn started by discussing the state of trade between the UK and Latin America in the past year: the value of services trade reached £21 billion this year, which constitutes a 30% increase over the past 10 years. The UK is a member of the IDB, which is an institution that is devoted to financing development across Latin America and the Caribbean. The President noted that the UK has a particular interest in the Caribbean, and explained that the Bank has recently created a trust fund for the region, which is being used to help develop island nations vulnerable to climate change. $6.4 billion USD was drawn from this fund to help Jamaica following Hurricane Melissa. The speaker highlighted opportunities for UK businesses across the region, particularly in the creation of green energy technology and critical minerals.

He went on to discuss the IDB’s work with Brazil. The Bank has an agreement with the Central Bank of Brazil through which it provides money to support growing businesses. Through the Eco Invest programme, UK companies are helping to create renewable energy in the country. Furthermore, the IDB was present at COP30, where it secured funding for its climate missions.

Finally, the President discussed the work of the IDB across the region and explained that the Bank aims to crowd in: by spending money as a public body, it stimulates private sector spending. To encourage private sector engagement with the IDB, the President showcased BID for the Americas, the IDB’s program that connects private sector expertise and capital to public projects. The IDB hopes to return to the UK in May of 2026 to continue building bridges between the UK and Latin America. Canning House looks forward to continuing this valuable relationship.

BID for the Americas