IDB Group Launches ReInvest+: Going Where the Money Is to Unlock Private Climate Finance

• Groundbreaking global initiative will kick off first in Latin America and the Caribbean
• Interested banks can submit proposals to join by October 24

NEW YORK - The Inter-American Development Bank Group (IDB Group), in partnership with SB COP and the Brazilian COP30 Presidency, today launched ReInvest+, a bold new initiative to bridge global financial markets with the transformative adaptation and mitigation projects urgently needed in developing countries.

Developing nations aside from China require more than $1.3 trillion annually to build resilience against climate events and reduce emissions. Public resources can only cover a fraction of this need, which makes unlocking private resources critical. However, private capital flows remain slow; global investors favor rated, hard-currency securities, while the projects most in need are early-stage, unrated, and often in local currency.

"Until now, we have asked institutional investors to change their risk appetite to invest in projects in developing countries. That approach has proven too costly and unscalable. With ReInvest+, we are flipping the script," said IDB Group President Ilan Goldfajn.

"The projects must go where the money is. Indeed, we're planning to unlock private capital by transforming proven local loans into investable global assets - reopening the space for new loans and potentially scaling climate financing like never before," Goldfajn said.

"One of the successes I hope COP30 will be remembered for is precisely the issue of climate financing. We are assessing what has already been done and what remains to be done, and ReInvest+ helps fill these gaps. Together, we are moving forward by demonstrating how finance can contribute to climate solutions," said COP30 President, Ambassador André Corrêa do Lago.

"SB COP has always been about turning ambition into concrete action," said Luciana Ribeiro, transition finance and investments chair of the Sustainable Business COP30 initiative (SB COP). "With ReInvest+, we are not just supporting the implementation of innovative financing models for the transition to a low-carbon economy, but actively driving it. Our focus is catalyzing private-sector leadership so that capital is mobilized at scale, making mitigation and adaptation projects truly viable and impactful."

ReInvest+ is built on four key steps:

1. Start with seasoned loans.
   ReInvest+ begins with performing, approved, and constructed projects already on the balance sheets of local banks. These loans have proven track records and partial risk mitigation. A study commissioned by the IDB Group estimates that there is about $500 billion in such loans across Latin America and the Caribbean alone - part of a global pool that could exceed $3 trillion.
2. Convert loans into investment-grade securities.
   These loans are diversified and enhanced with commercially priced portfolio insurance for political and foreign-exchange risks. Doing so transforms them into investment-grade, hard-currency securities that institutional investors can buy.
3. Recycle capital through conditionality.
   Loans are purchased only if banks commit to reinvesting proceeds into sectors aligned with national development plans and climate goals (nationally determined contributions, or NDCs). This creates a self-reinforcing loop of capital, ensuring that institutional money flows into real projects, local jobs, and sustainable growth.
4. Empower local banks to reinvest.
   Local banks - closest to the projects - become key actors in identifying and financing new opportunities. This inclusive model aligns incentives across stakeholders: national governments, local firms, banks, and global investors.

Call for Global Partnership

The IDB Group recognizes that achieving scale and speed requires collaboration. The Group has launched a call for proposals for partners interested in joining the initiative. Commercial and international banks can submit their interest by October 24.

The IDB will serve as a trusted, neutral convener, setting criteria for purchasing assets, ensuring transparency, and offering financial technologies, including FX portfolio insurance. At COP30, the IDB and the IDB Group private arm, IDB Invest, will announce selected partners in the initiative and their plans to purchase assets over the next 12 months.

The IDB Group is committed to the $1.3 trillion Baku to Belém Roadmap and supports redesigning financing flows between the public and the private sectors for development, climate, and nature through innovation and collaboration, enabling countries in Latin America and the Caribbean to scale impact.