The Inter-American Development Bank Group (IDB Group) and the OPEC Fund for International Development (OPEC Fund) have launched a new $3 million facility to prepare high-quality, co-financing-ready infrastructure projects across Latin America and the Caribbean. The initiative was formalized in Riyadh during the 9th Future Investment Initiative, with the agreement signed by IDB Group President Ilan Goldfajn and OPEC Fund President Abdulhamid Alkhalifa. It marks a key step in advancing their partnership to boost sustainable development and regional integration, following an earlier memorandum of understanding signed in Washington in April 2025.
The new IDB-OPEC Fund Project Preparation Facility will be managed by the IDB and will provide technical cooperation support in 24 eligible countries in the region. Its goal is to enhance project design, implementation, and institutional capacity to ensure future co-financing opportunities. The facility will prioritize sectors critical to regional development, including transport, renewable energy, water and sanitation, digital infrastructure, and social services.
By financing pre-investment activities such as feasibility studies, environmental safeguards, and procurement planning, the initiative aims to unlock more than $400 million in investments over the next five years. The facility represents a strategic effort to strengthen the foundation for sustainable and inclusive growth in Latin America and the Caribbean through better-prepared, high-impact projects.
According to IDB President Ilan Goldfajn, the partnership creates a “bridge between vision and co-financing-ready projects,” combining the IDB’s regional expertise with the OPEC Fund’s global reach. OPEC Fund President Abdulhamid Alkhalifa emphasized that the facility will help channel resources toward impactful projects that promote long-term growth and resilience across the region.
The new facility includes two core components: one focused on project design and implementation—covering technical studies, legal reviews, and monitoring systems—and another aimed at institutional strengthening, providing support for regulatory improvements, capacity-building, and digital tools to enhance transparency and project management.
