The Inter-American Development Bank (IDB) launched a new program yesterday it calls Bid for the Americas, which is meant to strengthen and grow economic ties between the United States, Latin America and the Caribbean, the IDB said in a statement.
The IDB said the new program will focus on public procurement, trade and investment, and financing.
The statement explained that the program's launch event featured addresses by Special Presidential Advisor for the Americas Senator Chris Dodd; US Deputy Secretary of Commerce Don Graves; President and CEO of the US Chamber of Commerce Suzanne Clark; and senior representatives from Intel, Amazon, and SBA Communications.
IDB President Ilan Goldfajn said in the statement that the US is critical in the IDB's work to scale up development in Latin America and the Caribbean.
"Bid for the Americas will give US businesses a unique platform that leverages innovative technologies and financial tools to expand in Latin America and the Caribbean," said Goldfajn.
"The IDB's experience, networks, and commitment to transparency, equality,
governance, and sustainability make it the pre-eminent partner of choice for international business engagement with the region.
The statement said the program will help US firms to increase their participation in more than $4 billion worth of government contracts financed by IDB in the region annually.
The IDB said it will organize roadshows to connect US and Latin American and Caribbean firms; launch three mobile apps for real-time information about IDB-funded procurement; partner with the US Chamber of Commerce and other business organizations to raise awareness about opportunities in this region; and develop a dedicated US section within ConnectAmericas.com, which is the IDB's business-to-business social network.
Clark said in the statement that the IDB and the US Chamber of Commerce have successfully advanced public-private partnerships in the past.
"Bid for the Americas will boost trade by educating investors and exporters and fostering new partnerships across the region,' said Clark.
"For countries across Latin America and the Caribbean, it will bring the promise of increased American investment and ingenuity. We look forward to taking this initiative on the road, both in the US and across the Americas, to engage our partners and spur private-sector investment and trade across the hemisphere."
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