06/13/2025 | Press release | Distributed by Public on 06/13/2025 04:13
The Government approved Finland's participation in the third capital increase of IDB Invest, an investment company of the Inter-American Development Bank Group. Through the capital increase, IDB Invest will boost its lending and investments in the private sector and improve its risk-taking capacity and ability to leverage private capital to achieve broader development goals.
"Our investment in IDB Invest advances Finland's development policy goals by supporting the private sector. The company's new business model is in line with Finland's aim to increase the use of private capital in responding to development challenges," says Minister for Foreign Trade and Development Ville Tavio.
James Scriven, Chief Executive Officer of IDB Invest, which is a member of the Inter-American Development Bank Group, will visit Finland on 13 June and meet Under-Secretary of State Pasi Hellman. They will discuss cooperation between Finland and IDB Invest. During his visit, Scriven will meet Finnish stakeholders from various fields to discuss opportunities for cooperation in areas such as mining and digitalisation in Latin America and the Caribbean.
"Finnish solutions are in demand in Latin America for addressing the region's development challenges," says Minister Tavio.
The Board of Governors of IDB Invest approved the capital increase on 10 March 2024. Finland will participate in the capital increase of IDB Invest in proportion to its current shareholding by subscribing for a maximum of 928 shares by March 2026. The total sum will depend on the exchange rate and will not exceed EUR 19.6 million in 2025-2031.
IDB Invest promotes sustainable economic development in Latin America and the Caribbean by providing financing and expert support to the region's private sector. This third capital increase will enable the IDBto increase its lending and investment volumes and deploy the new business model. The purpose of the model is to attract more private capital into IDB Invest's projects, improve effectiveness and increase investment volumes in the region. The capital increase aims to almost double the amount of annual financing to up to USD 19 billion over the next decade.
The Inter-American Development Bank Group is the region's largest development finance institution. IDB Invest is owned by its 48 member countries, 26 of which are in its area of operation, the Latin American and Caribbean region.
The email addresses of the Ministry for Foreign Affairs are in the format [email protected].