JICA Signs Contribution Agreement to the Trust Fund for Private Sector Development in Latin America and the Caribbean (Overseas Investment and Financing): Promoting SDG Achievement in the Region through Private Sector Initiatives
Tokyo, February 18, 2025 – The Japan International Cooperation Agency (JICA) signed a contribution agreement to the Trust Fund for Private Sector Development in Latin America and the Caribbean. The agreement was signed between JICA’s Senior Vice President Keita Okamura and the Inter-American Development Bank’s (IDB) Executive Vice President for Finance and Administration Rodrigo Chaves.
The Trust Fund, established in 2020, aims to promote the achievement of the Sustainable Development Goals (SDGs) in Latin America and the Caribbean by supporting the development of the private sector. The fund provides grants to private companies and non-profit organizations to implement projects that contribute to economic growth, social inclusion, and environmental sustainability.
JICA’s contribution of $10 million will be used to support projects in the following areas:
- Promoting sustainable agriculture and food security
- Developing renewable energy and energy efficiency solutions
- Improving access to finance for small and medium-sized enterprises (SMEs)
- Enhancing skills development and workforce training
Speaking at the signing ceremony, JICA’s Senior Vice President Keita Okamura said, “The private sector is a vital partner in achieving the SDGs. By supporting the development of the private sector in Latin America and the Caribbean, we can create jobs, reduce poverty, and promote sustainable growth.”
IDB’s Executive Vice President for Finance and Administration Rodrigo Chaves said, “The Trust Fund for Private Sector Development is a valuable tool for supporting the private sector in the region. JICA’s contribution will allow us to expand the scope of our work and reach more companies and communities.”
The Trust Fund is managed by the IDB. Since its establishment, the fund has supported over 50 projects in 15 countries. The projects have generated over $1 billion in private sector investment and created over 10,000 jobs.
JICA’s contribution to the Trust Fund is part of its broader commitment to supporting the development of the private sector in developing countries. JICA provides a range of financial and technical assistance to private companies and non-profit organizations, including grants, loans, and technical expertise.
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