The Inter-American Development Bank (IDB) and IDB Invest, the private arm of the IDB Group, have allocated more than $26 billion in climate finance for Latin America and the Caribbean between 2016 and 2021, representing around 60% of the climate finance delivered to the region by multilateral development banks.

Of that total, $8.3 billion has been earmarked for climate adaptation and resilience, a relevant figure in a region where natural disasters have tripled in the last 50 years. IDB Invest’s contribution to adaptation has grown from $400,000 million to $105 million in the last five years.

It is estimated that every dollar invested in resilient infrastructure can generate up to four dollars in economic benefits. Therefore, it is important that countries incorporate climate risks into their development plans and prioritize multisectoral actions to improve resilience.

These figures reflect the commitment of the IDB Group, comprising IDB, IDB Invest and IDB Lab, to the region and position it as a priority strategic ally in addressing the climate emergency. This was made clear at COP27, the United Nations Climate Conference being held in Sharm al Shaij (Egypt) with the presence of a large IDB delegation.