Signing of Contribution Agreement to the Middle America and Caribbean Regional Private Sector Development Trust Fund (Overseas Investment and Loans): Promoting the Achievement of SDGs in the Region through Private Sector Initiatives
2025-02-18 08:37
The Japan International Cooperation Agency (JICA) has signed a contribution agreement with the Inter-American Development Bank (IDB) to establish the Middle America and Caribbean Regional Private Sector Development Trust Fund. The trust fund aims to promote the achievement of the Sustainable Development Goals (SDGs) in the region through the initiatives of private sector companies.
Significance of the Trust Fund
The Middle America and Caribbean region faces various challenges, including poverty, inequality, and environmental degradation. The private sector plays a crucial role in addressing these challenges and contributing to the region’s sustainable development. The trust fund will provide financial and technical support to private sector companies that are committed to promoting economic growth, social inclusion, and environmental sustainability.
Objectives of the Trust Fund
The trust fund has the following objectives:
- Support private sector initiatives that contribute to the achievement of the SDGs in the region.
- Foster collaboration between private sector companies, governments, and international organizations.
- Provide financial assistance to private sector projects that align with the priorities of the region.
- Enhance the capacity of private sector companies to implement sustainable business practices.
Target Areas
The trust fund will focus on supporting private sector projects in the following areas:
- Infrastructure development
- Energy and climate change mitigation
- Education and skills development
- Health and nutrition
- Gender equality and women’s empowerment
Contribution from JICA
JICA will contribute USD 10 million to the trust fund. This contribution will be used to provide grants and technical assistance to private sector companies that are implementing projects that contribute to the SDGs in the region.
Expected Impacts
The trust fund is expected to have the following impacts:
- Increased private sector investment in the region
- Improved access to essential services for communities
- Creation of new jobs and economic opportunities
- Enhanced competitiveness of private sector companies
- Reduced environmental impact of business activities
Collaboration with IDB
JICA will work closely with IDB in the implementation of the trust fund. IDB will provide technical expertise and manage the fund’s operations. The collaboration between JICA and IDB will ensure that the trust fund effectively contributes to the sustainable development of the Middle America and Caribbean region.
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