Long-term plans start to bear fruit as the Inter-American Development Bank (IDB) reaches the closing stages of the 'Regional Public Goods' initiative. Of which Bogotá's entry won a place among the 12 finalists from a total of 88 proposals received. The 'Regional Collaborative Platform’ is led by the Bogotá Secretaries of Environment, Habitat and Economic Development, this initiative seeks to strengthen the circular economy, post-COVID and mitigate the climate change crisis. The IDB also recognised Bogotá’s role in another regional co-operation project led by the city of Montevideo.
The IDB has reviewed various proposals and whittled the list down to 12 finalist who stand to benefit from an injection of USD 6.8 million. The IDB seeks to support groups of Latin American and Caribbean countries that have collectively addressed development opportunities that strengthen the regional value, that supports (Pymes/SMEs); gender equality; a transition to the digital sphere; and a response to climate change.
The ‘Regional Collaborative Platform’ project is led by the city of Bogotá and counts on the participation of the Production Promotion Corporation of Santiago de Chile; the Metropolitan District of Quito; and the Municipality of Lima. Its objective is to design and implement a platform that addresses the supply and demand of re-usable inputs between companies, to generate new markets and promote the transition towards zero-waste and low-carbon emission.
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This project contributes to the climate action strategies for the reduction of greenhouse gas emissions and through a regional approach allows expanding the range of products, services and available information for the public and participating companies.
The IDB selected another project for financing, “Caregiving communities as a tool for a life free of gender violence.” Led by the city of Montevideo, with the participation of Lima and Bogotá, through the Secretariat of Women, seeks to innovate in the mechanisms of prevention of violence against women. Such an endeavour works not only to re-educate but to strengthen the comprehensive response to any form gender violence.
The IDB's Regional Public Goods initiative seeks to finance specific regional coordination products that have the potential to generate significant common benefits and positive indirect effects; It is based on the premise that Latin America and the Caribbean countries share common development challenges and opportunities that can be addressed more effectively through collective action and regional cooperation.
Bogotá's participation in projects that deal with gender equity and climate change is in keeping with the lofty standards of the Sustainable Development Goals.
