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The IDB will support Uruguay to consolidate itself as a leader in sustainable development

The IDB will support Uruguay to consolidate itself as a leader in sustainable development

The Minister of Economy and Finance, Azucena Arbeleche, and the president of the international organization, Ilan Goldfajn, committed to deepening joint work.

Photo: Freepik

He Inter-American Development Bank (IDB) confirmed that it will support Uruguay to consolidate itself as a leader in sustainable development in the region, after a meeting between the president of the international organization, Ilan Goldfajnand the Minister of Economy and Finance (MEF), Azucena Arbeleche.

After the meeting where both parties committed to deepening joint work for development, the IDB confirmed its technical support to position the Uruguay as “a key player in innovation and digitalization worldwide”, as reported by the financial organization through its X account (formerly Twitter).

Likewise, the IDB hopes that the MEF can benefit from the new instrument IDB Climatewhich seeks to help countries access the green debt market, which allows benefits from meeting environmental objectives.

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The IDB approved a loan of 200 million dollars to Uruguay

In December of last year, the IDB granted Uruguay a credit for 200 million dollars with the purpose of mitigating the effects of the climate changeafter recognizing that the country had suffered “one of the worst droughts in its history” between 2022 and 2023.

The loan granted by the multilateral organization seeks to “contribute to the water security“, in an effort to prevent a new water crisis and underpin “environmental sustainability with a focus on circularity, adaptation and mitigation to climate change.”

Among the foundations of the credit, the IDB admitted that the drought that occurred between the end of 2022 and the beginning of 2023 “strongly impacted all economic sectors, especially the supply for human consumption, by not having sufficient quantity and quality of water.”

Its specific objective is to “improve the management of water resources and the quality of water services”, in order to increase “resilience to extreme events and strengthen solid waste management.”

Source: Ambito

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