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IDB Invest 2023 Annual Report: Scaling Impact
03/14/2024 Since 2 months

IDB Invest has released its 2023 Annual Report, year which it surpassed the milestone of 20 billion dollars in assets under management for the first time. IDB Invest’s total activity in 2023 reached 10.7 billion dollars, of which 5.4 billion dollars came from mobilizing resources from private investors. This historic figure was driven by pathbreaking projects such as a B-bond that enabled Chile to stabilize electricity prices, and a loan to AES that will help the Dominican Republic to sharply increase its non-conventional renewable energy capacity.

During 2023, IDB Invest also achieved the goal of ensuring that 100% of supported projects were aligned with the principles of the Paris Agreement on Climate Change. IDB Invest bolstered its pledge to increase climate finance, which reached 32% of total commitments in 2023. It has supported the implementation of 38 thematic bonds in 11 countries, which channel private resources into critical social, environmental and climate initiatives. For example, it helped Ecuador to structure a blue bond that will help to protect the Galápagos Islands. In addition, it has doubled the total amount geared towards adaptation from 180 million dollars in 2022 to 360 million dollars in 2023.

Finally, at COP28, the IDB Group announced plans to triple its climate financing to 150 billion dollars over the next decade, with support from its shareholders through direct and mobilized funds.