The Ministries of Finance and Agriculture, in cooperation with the Inter-American Development Bank, through its innovation arm the Lab, together with its private sector arm the Invest, are establishing a grant program with the aim of promoting green businesses in the field of agriculture in Latin America and the Caribbean. Israel provides a grant of 3 million dollars through the Ministries of Finance and Agriculture for the purpose of establishing the project "Innovation for green businesses in the field of agriculture"which will be managed and led by the Lab and Invest arms of the IDB.
The project focuses on providing help to agricultural businesses in Latin America and the Caribbean in response to the difficulties posed by climate change while fostering the development of sustainable business models with low carbon emissions. In addition, the project will help local firms internationalize their products, raise the skill level of employees, and adopt innovative technologies and innovative practice.
Since agriculture is a critical component of the economies in Latin America and the Caribbean, the American Bank, among its many partner arms in the project, and the Government of Israel combined efforts in order to deal with the main obstacles facing green investments by raising awareness, knowledge, and the ability involved in green practice; by identifying opportunities in green agriculture and green forestry; by experimenting with new technologies that may assist customers in sustainability and climate resilience; and by providing technical support in green forestry and green agriculture.
Minister of Finance, Avigdor Lieberman: "The joint fund of the Israeli government and the Inter-American Development Bank Group is proof of Israel’s strong commitment to promoting sustainable development in Latin America and the Caribbean. Israel has become a world leader in the field of green and sustainable agriculture, and has developed many technologies and methods suitable for resource-poor circumstances. The fund will enable IDB clients and its partners throughout Latin America and the Caribbean to leverage Israeli expertise and knowledge in order to achieve sustainable development goals. With this fund, Israel is proud to expand its strong collaboration with the IDB in the areas of cyber and water technologies. We look forward to continuing the joint work with the Group to ensure a sustainable and resilient future for Latin America and the Caribbean".
Minister of Agriculture, Oded Forer: "The cooperation with the Inter-American Development Bank will enable the establishment of an investment fund in agriculture to finance flagship projects and the exposure of smart and innovative Israeli technologies that will respond to the challenges of food production under changing climate conditions. This move will increase Israel’s cooperation with Latin American countries and highlight Israel’s contribution to the global effort to deal with the challenge of food production in the world under the conditions created. In addition, the cooperation with the bank will help to promote the activity of the business sector in both countries".
IDB President Mauricio Claver-Caron: "Here at the IDB Group, we believe that empowering firms in our region is critical to igniting renewed growth, encouraging social progress, and fostering recovery. Specifically, helping agribusinesses function in innovative and more resilient ways can create jobs, improve food security, and lift economies. We are grateful to our partners in the Israeli government – an example and model of innovation and development in the private sector – for their support of this new venture. This action is consistent with the IDB’s mission to promote economic recovery and inclusive growth in Latin America and the Caribbean in the areas of the digital economy, gender and representation, and climate change.".
About the Inter-American Development Bank:
The Inter-American Development Bank is dedicated to improving the quality of life. Since its establishment in 1959, the bank has been a leading source of funding for economic, social, and institutional development in Latin America and the Caribbean. The bank even engages in research at the highest levels and provides policy consulting services, technical support and training to customers in the region, in both the private and public sector.
About the IDB Invest:
IDB Invest is a multilateral development bank that is a member of the IDB Group. Its purpose is to promote economic development in its member countries in Latin America and the Caribbean through the private sector. The bank finances sustainable companies and projects in order to achieve financial results and maximize environmental, social, and economic development in the region. The bank’s holdings portfolio contains assets worth approximately 14.8 billion US dollars"B, and 376 customers in 25 countries, and it provides innovative financial solutions and consulting services that meet the needs of the bank’s customers in a variety of different industries.