IDB Sets $500 Billion Goal for Latin America and Caribbean, Launches LAC Minerals With Japan’s Backing

Overview

• The Inter-American Development Bank unveiled a target to mobilize up to $500 billion in 2026–2033 at its annual meetings in Asunción.
• IDB Invest completed the subscription of a $3.5 billion capital increase, paving the way to raise its annual financing and mobilization capacity to nearly $22 billion.
• The bank launched the BID LAC Minerals initiative to move beyond raw extraction into processing, refining, and manufacturing in the region.
• Japan committed an initial $20 million to the minerals initiative, with Canada, Finland, and Italy signaling support through technical assistance, financial tools, and co-investments.
• The IDB cites the region’s roughly 30% share of global critical mineral supply and projects a $770 billion market by 2040, highlighting the need for regulatory frameworks, long-term contracts, and skills development to crowd in private investment.