Japan's JICA contributes $1 billion to IDB Invest for Latin America's sustainable growth

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Japan's JICA contributes $1 billion to IDB Invest for Latin America's sustainable growth - Channel News Asia

Quick Summary:

Japan's International Cooperation Agency (JICA) announced on Tuesday a $1 billion contribution to a fund aimed at boosting the private sector arm of the Inter-American Development Bank to finance sustainable growth across Latin America and the Caribbean.

This model seeks out and starts investment opportunities in the region, syndicating portions of these investments to investors instead of retaining them until maturity.

In a joint statement, JICA and the IDB said that, subject to mutual agreement, the new fund has the potential to expand to $1.5 billion after three years.