Economic reactivation and regional growth boosting – challenges facing development banks


ECLAC participated at the virtual meeting of chief economists of development banks of LAC on an event convened by ALIDE – The Latin American Association of Development Financing Institutions, focused on economic reactivation in the context of COVID19. The Executive Secretary outlined ECLAC’s proposals to address the region’s financing challenges, including the issuance of SDRs, debt relief in the Caribbean, innovative financing instruments and addressing the global debt architecture. She also stressed the role the region’s development banks have played in addressing the crisis, amounting to $20 billion dollars. She emphasized that development banks should not only support the region’s SMEs but also the engines of a new development models and improve the coordination among the region’s development banks.