The Inter-American Development Bank’s private-sector arm, IDB Invest, used the bank’s annual Sustainability Week in Barbados to announce new financing commitments for conservation and job-creation. More than 800 participants attended the event, including 350 companies.
IDB Invest announced a Swiss franc-denominated social impact bond on the SIX Swiss Exchange, raising CHF 100 million ($127 million) for water management and marine conservation.
The development finance institution committed $30 million to Trinidad Tissues Limited, which is among the largest tissue manufacturers in the region, where many countries remain reliant on imports from China, the US and Turkey.
Small business finance
A $10 million working capital facility approved by IDB Invest will let Sygnus Investment Bahamas purchase invoices from job-creating small and medium-sized businesses. IDB Invest provided a $5 million guarantee to Occidental Bank to expand financing for imports and exports.
IDB Lab, the bank’s venture arm, is partnering with the University of Guyana to bring precision agriculture, artificial intelligence and Internet of Things technologies to farmers in Guyana.
