The Inter-American Development Bank (IDB) and the Government of Canada announced a new program to encourage the adoption of nature-based solutions (NBS) in Latin America and the Caribbean.

The Government of Canada will fund the program for up to 5 million Canadian dollars (equivalent to about 3.7 million US dollars). The program aims to improve the integration of biodiversity and ecosystem services, increase private sector investment, enhance national-budget allocation and promote NBS-related policies with a gender perspective. It also seeks to create the enabling conditions in recipient countries to build climate resilience and protect ecosystems.

The project will support a minimum of four countries and will work directly with 250 beneficiaries from government areas, the private sector, and civil society, complementing the work underway by the IDB’s Natural Capital Laboratory program.