The governors of Inter-American Development Bank had a special meeting in Mendoza, Argentina on March 24. The minister of planning, Development, and Management, Dyogo Oliveira took that opportunity to defend the rise of private investment in the infrastructure projects in the country. He emphasized the importance of coming up with financial guarantee mechanisms that will leverage the private investment in the infrastructure projects of Latin America.
He suggested that the IDB should educate people so that they can gain knowledge on how to handle the project risk management and be able to facilitate the advantage of personal investment in Mendoza.
The minister of finance in Argentina who is also the chairperson of the Bank’s Board of Governors seconded Dyogo on his idea. The Secretary of State for the economy and business support in Spain highlighted the vitality of the markets in the region and emphasized Brazil to be the ideal country for Spanish investment. Read more at infomoney.com to know more.
According to Oliveira, the IDB supporting the new investments from other the nations is necessary since there will be some revolution taking place. There is need to build the roads and sanitation to get more water; this should take place at the same time. They should also invest in modern infrastructure with the aim of promoting the industrial revolution.
According to Luis, the Latin American challenge is the convergence of the infrastructure, and improving connectivity between nations. Luis continues to say that the region will not achieve the intended investment to overcome the growth obstacles without the investment.
Luis Moreno emphasized that IDB has coped with the current social demands; as a result, it has reinforced gender equality policies and the environmental sustainability in the accomplishment of the projects.
Minister Dyogo also said that Brazil had made Public-Private Partnerships for the public works. Felipe Montoro Jens puts some emphasis on this point by saying that the Brazilian government had been assuming that the infrastructure and financial sector are well equipped with the best practices of the nations in the region.
The Ministry of Planning, Development, and Management reported that last year the loan given to Brazil by the IDB was 20% more than in the previous year.