IDB, AFD Sign MOU for Sustainable Urban Development, Transportation and Energy

IDB29 October 2012: The French development agency (AFD) and the Inter-American Development Bank (IDB) have signed a new Memorandum of Understanding (MOU) to support the expansion of the AFD-IDB partnership and cooperation ties for development efforts in Latin America and the Caribbean. The MOU was signed on 14 October 2012, during the World Bank Annual Meeting in Tokyo, Japan.

The MOU will replace one signed in 2008 by the IDB and AFD. The activities under the new MOU will focus on urban development and sustainable cities, education and technical and vocational training, transportation and energy, with opportunities for project co-financing, exchange of personnel and secondments, and knowledge exchange and outreach activities.

The IDB and AFD also will explore opportunities for private sector financing and further collaboration between Latin America and the Caribbean and France's private sectors through AFD's private sector subsidiary, Proparco. [IDB Press Release]