He added that proper fiscal planning would help the decarbonization of the region's economies create 15 million net new jobs by 2030 in sectors such as sustainable infrastructure, technology, housing, transport, and green finance, among many others.
SANTO DOMINGO.– The Inter-American Development Bank (IDB) will provide US$24 billion for climate and green financing over the next four years (until 2025) for countries in the region.
This was reported by the president of the entity, Mauricio Claver Carone, who said that, in addition, in alliance with the German government, they launched the Fund for the Promotion of Fiscal Policy for Climate Change in Latin America and the Caribbean with 17.5 million euros and will provide the necessary technical support for the finance ministries of the region to incorporate the issue of climate change at the center of fiscal and public finance policy.
This will be achieved through the development of climate change action plans and other actions that will address the needs of the ministries involved.
Claver offered these details during the launch of the Regional Climate Change Platform of Ministries of Finance, Economy and Treasury, which will serve to exchange good practices, with the aim of strengthening the climate agendas of the ministries of the region and sustainable development.
He added that proper fiscal planning would help the decarbonization of the region's economies create 15 million net new jobs by 2030 in sectors such as sustainable infrastructure, technology, housing, transport, and green finance, among many others.
Meanwhile, the IDB's Vice President for Countries, Richard Martinez, stated that this platform will be a valuable tool to support them in mitigating the potential risks to public finances generated by extreme weather events and the structural and technological changes that are yet to come.
He said this will strengthen the capacity to respond and leverage available public resources to achieve a just transition to decarbonized economies.
He explained that, based on all the accumulated experience of the countries, this new platform will facilitate the coordination and exchange of fiscal policy instruments, incorporating the particularities of the countries of the region and facilitating insertion into international forums.
And Benigno López, Vice President of Sectors at the IDB, highlighted that the platform can also catalyze private investment with incentive frameworks and regulatory reforms, as well as contribute to the development of financing such as green bonds.
