Tegucigalpa, Honduras, March 23, 2011—
IFC, member of the World Bank Group, and the Central American Bank for Economic Integration signed an agreement to provide joint advisory services for projects with private participation to Central American governments that will help improve infrastructure and public services.
Through this partnership, IFC and the Central American Bank for Economic Integration will design and implement innovative schemes that could facilitate project execution with private sector participation. The target sectors are renewable energy and other climate change-related projects, water treatment and solid-waste management, health, education, and transportation. The partners also will organize a regional seminar on the benefits of public-private partnerships.
“Our mission is to promote the integration and balanced economic and social development of the Central American countries,” said Alejandro Rodriguez, Vice President of the Central American Bank for Economic Integration. “Boosting the physical, economic, and commercial integration through infrastructure projects is part of our objective.”
Public-private partnerships allow the private sector to participate in improving public services by bringing investments and expertise as well as incorporating more efficient systems. These improvements contribute to the public sector’s objectives to provide better services and expand the necessary infrastructure.
"IFC's partnership with the Central American Bank for Economic Integration will enable us to have more impact bridging Central America's infrastructure gap and promoting regional integration, two important priorities for the region's economic growth, said Rachel Kyte, IFC Vice President for Business Advisory Services. Strengthening infrastructure, the foundation for any economy, will help attract more investment, create jobs, and improve the lives of people across Central America."
IFC’s strategy in Honduras is to promote access to finance for micro, small, and medium enterprises and help local companies become regional and global players. Through its advisory services, IFC aims to improve the overall business climate by helping simplify red tape, creating development opportunities for small businesses, and supporting infrastructure improvements.
About IFC
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in developing countries. We create opportunity for people to escape poverty and improve their lives. We do so by providing financing to help businesses employ more people and supply essential services, by mobilizing capital from others, and by delivering advisory services to ensure sustainable development. In a time of global economic uncertainty, our new investments climbed to a record $18 billion in fiscal 2010. For more information, visit
www.ifc.org
.
About the Central American Bank for Economic Integration:
The Central American Bank for Economic Integration is the largest financial institution in Central America. It supports social programs and promotes development of economic, social, health, and educational institutions within the region. The bank also promotes the regional integration supporting private sector including small and medium enterprises. For more information, visit
www.bcie.org
.
