During the IDB’s Annual Meeting of Governors, a new initiative was announced to forge sustainable development models based on human capital, natural wealth, and the cultural heritage of the Amazon region.

This initiative will have 20 million dollars in seed capital from the IDB, and will be implemented in coordination with the Amazonian countries and the Amazon Cooperation Treaty Organization (ACTO). The initiative will focus on four thematic areas: the bioeconomy; sustainable management of agriculture, livestock and forests; human capital and sustainable cities and infrastructure.. The IDB will work in conjunction with the private sector partners, non-governmental organizations, and funds such as the Green Climate Fund and the Global Environmental Facility to adopt more modern, productive and inclusive development models.

Home to more than 30 million people, the Amazon region is critically important to ecosystems worldwide: it provides between 35% and 40% of Latin America’s fresh water, regulates air quality, stores net carbon emissions, and regulates nutrient and hydrological cycles for the South American continent