IDB Invest and Denmark’s Investment Fund for Developing Countries join forces to promote private sector finance

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, has cemented a partnership with Denmark’s Investment Fund for Developing Countries (IFU) through a new memorandum of understanding, formalized at the IDB Group’s Annual Meeting of the Boards of Governors in Mendoza.

Signed by IDB Invest CEO James P. Scriven, and IFU Vice President Helle Bjerre, the collaboration will promote the financing of private sector projects in Latin America and the Caribbean.

The partnership with IFU, an independent government-owned fund that offers risk capital and advice to Danish companies setting up business in emerging markets, will actively identify opportunities for co-financing and co-investment in private sector projects.

The partners will target sectors in which market-based solutions have the potential to drive substantial progress and scalability in line with the United Nations Sustainable Development Goals. IDB Invest and IFU have already begun to develop a pipeline of projects in Colombia, and also plan to work together through robust knowledge, information, and best practice exchange efforts.

The new agreement builds on a historic partnership between the IDB Group and Denmark, which includes joint support to national development banks across the region to catalyze private sector investment in energy efficiency and Denmark’s active participation in the IDB-managed Gender and Diversity Fund. The partnership’s private sector focus is in line with the IDB’s ongoing engagement of Danish companies including the Maersk Group, Novozymes, Vestas, and LEGO.

Original source: IDB
Published on 23 March 2018