IMF and IDB Collaborate to Advance Paraguay’s Sustainable Development Initiatives
Goldfajn (R) and Georgieva (L) highlighted Paraguay’s progress after meeting with President Peña
The Inter-American Development Bank (IDB) and the International Monetary Fund (IMF) have joined hands to strengthen their collaboration with Latin American and Caribbean nations in promoting environmental initiatives and sustainable development.
During a meeting with President Santiago Peña, IDB President Ilan Goldfajn and IMF Managing Director Kristalina Georgieva discussed enhancing climate change adaptation and mitigation measures in Paraguay under the Resilience and Sustainability Facility (SRS) Agreement, which granted the country $100 million in funding.
In addition, the IMF introduced the Policy Coordination Instrument (PCI) to support Paraguay in ensuring macroeconomic stability and resilience. The IMF has pledged $400 million to a sustainability fund, commending Paraguay for its strong macroeconomic policies and green economy achievements.
With a focus on renewable energy production and economic stability, Paraguay will host the annual IDB and IDB Invest meetings in 2026, showcasing the benefits of collaboration with these financial institutions.
The cooperation aims to implement projects like the IDB Climate initiative, targeting the restoration of the Ypacaraí Lake basin for sustainable growth.
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