IDB and IDB Invest Approve Over $2 Billion for Biodiversity in 2023

CALI, Colombia, Oct. 29, 2024 (GLOBE NEWSWIRE) -- The Inter-American Development Bank (IDB) and IDB Invest approved together more than $2 billion in nature finance in 2023, nearly 13% of total approvals, with more than half meeting the higher standard of nature-positive financing. The announcement was made by the IDB Executive Vice President Jordan Schwartz at the United Nations Biodiversity Conference (COP16).

The amount includes $1,33 billion for the public sector and $765 million for the private sector and reflects a series of reforms and innovative approaches towards mainstreaming biodiversity into IDB's and IDB Invest's structure, operational work, knowledge, and policies aiming to support countries in Latin America and the Caribbean to conserve and restore biodiversity and meet their biodiversity commitments and targets, including tracking and reporting nature finance.

For the first time, the IDB and IDB Invest have piloted tracking nature finance using its green finance principles and the Common Principles agreed by Multilateral Development ...