The special meeting of the Governors of the Inter-American Development Bank (IDB) met on March 24th in Mendoza, Argentina. Dyogo Oliveira, the Minister of Planning, Development and Management, made a defense for the increase of private investments made in infrastructure projects in Brazil. According to Infrastructure Projects expert Felipe Montoro Jens, Oliveira said that it is important to create financial guarantee mechanisms that can leverage private investments in Latin America’s infrastructure projects.
Luis Caputo, the Bank Boards of Governors chairman and Argentina’s finance minister, agreed with Oliveira, and Garrido, the Secretary of State for Spain’s Economy and Business Support, said that Brazil is the primary country for Spanish investment. Oliveira also believes that investment in more modern infrastructure is necessary to promote the Industry 4.0 revolution. Find out more at consultasocio.com to learn more.
Felipe Montoro Jens also reported that Luis Alberto Moreno, the president of the Inter-American Development Bank, the IDB has been able to adapt to the new social demands, which has resulted in the reinforcement of policies of gender equality and the sustainability of the environment in the implementation of the projects. Oliveira also stated that Brazil made numerous Public-Private Partnerships (PPPs), which he believes in in alignment with the greatest practices of the region’s countries as well as with the IDB’s guidelines and actions.
The Ministry of Planning, Development and Management stated that PPPs have increased in the Caribbean and Latin America. The value of the nearly 1,000 infrastructure PPP projects was valued at $360 billion over the course of the past 10 years. However, they also state that there are several projects that have been unsuccessful in mobilizing private capital. Last year, IDB loans to Brazil came to a total of about $12.9 billion, which is 20 percent more than it was in 2016, according to Felipe Montoro Jens.