EIB attends IDB annual meeting and shows its support for cooperation with Latin America

The European Investment Bank (EIB) will be present from today at the 2017 annual meeting of the Inter-American Development Bank (IDB) in Paraguay, with the aim to continue working to strengthen European Union cooperation and collaboration with Latin America. The EIB Vice-President with responsibility for Latin America, Román Escolano, has travelled to Asunción to attend the meeting and to meet with economy, finance and development ministers from various Latin American countries, as well as representatives from several Latin American and international financial institutions. The EIB Vice-President is meeting with IDB President Luis Alberto Moreno today.

“The EIB has been working in Latin America since 1993 and is committed to continuing to participate in projects catalysing the region's economic development. As the EU bank, the EIB supports EU foreign policy priorities by facilitating investment into economic and social infrastructure,” said EIB Vice-President Román Escolano today in Asunción. “Our aim is to provide favourable financing terms to public and private sector projects with a positive impact on people's lives in Latin American countries. Examples of operations we have already implemented in the region include projects improving public transport, electricity distribution grids and water treatment. One of the EIB's priorities in Latin America is expanding financing to invest in projects centred on tackling climate change and its effects.”

The EIB Vice-President's visit to Paraguay is the second time he has travelled to the region this month. On 22 March, the EIB signed a new cooperation agreement with NAFIN, one of Mexico's largest development banks, with the goal of strengthening collaboration between the two institutions. During his visit, the EIB Vice-President met with the Mexican Ministers of Finance, Energy and Transport.

The EIB in Latin America

The European Union is Latin America's main economic development partner and the EIB, as the EU bank, supports cooperation between both regions by financing projects that help meet EU foreign policy objectives: economic development, social and environmental infrastructure, private sector development and tackling climate change.

The EIB provides economic support for projects in Latin America by facilitating long-term investment with favourable conditions and by providing the technical support needed to ensure that these projects deliver positive social, economic and environmental results.

Since the EIB began operations in Latin America in 1993, it has facilitated financing for 100 projects in 14 different countries in the region, with total investment of EUR 7bn. In 2016, the EU bank provided EUR 519m to implement various projects in Brazil, Ecuador and Panama.

Contact

Enrico Possenti

e.possenti@eib.org
+352 4379 - 82144

Press Office

press@eib.org
+352 43791

Reference

2017-088-EN

31 March 2017

Bolivia: EIB grants a USD 82m loan to widen the Confital to Bombeo road to two lanes

The EIB will provide USD 82m to finance the construction of new two lanes per direction on the road connecting the Confital and Bombeo areas, forming part of the east-west corridor. This important route links the country's three largest cities – La Paz, Cochabamba and Santa Cruz – while also connecting Bolivia with Brazil, Peru and Chile. To this end, the project will improve links both within the country and abroad. EIB Vice-President and head of Latin America Román Escolano and Bolivian Planning and Development Minister Mariana Prado signed the agreement today in Asunción, where the Inter-American Development Bank's annual meeting is being held.

24 March 2018

EIB attends IDB annual meeting and shows its willingness to continue supporting cooperation between the European Union and Latin America

The EIB is attending the 2018 annual meeting held by the Inter-American Development Bank (IDB) in Argentina. At this event, the EIB delegation, headed by the Bank's Director for Operations in Latin America María Shaw-Barragán, is holding various meetings with economy, finance and development ministers from several Latin American and Caribbean countries, as well as with representatives from Latin American and international institutions. The aim is to continue working towards closer cooperation and collaboration between the EU and Latin America and the Caribbean.

26 March 2018

EIB signs cooperation agreements with Central American Bank for Economic Integration (CABEI) and COFIDES to facilitate investment in Latin America

The EIB has taken another step towards strengthening its collaboration with financial institutions that operate in Latin America and the Caribbean. The EU bank, which participated in the 2018 annual meeting held by the Inter-American Development Bank (IDB) in Argentina, signed a Memorandum of Understanding with the Central American Bank for Economic Integration (CABEI) to establish a new partnership framework for strengthening cooperation between the two institutions. The aim of this agreement is to work together to finance projects that support the development of economic and social infrastructure in Central America and the Caribbean, with particular emphasis on providing funds for climate action.