IDB BEGINS SECOND PHASE OF PUBLIC CONSULTATION ON NEW INTEGRATION STRATEGY FOR LATIN AMERICA AND THE CARIBBEAN

Washington, February 2- The Inter-American Development Bank (IDB) is announcing the start of a second phase of public consultations on the development of its new Competitive Regional and Global Integration Strategy for Latin America and the Caribbean.

This second consultation phase will take place between Jan. 25, and Feb. 24 and seeks comments from governments, private sector, civil society, experts, and other specialists on the Draft Strategy to Support Competitive Global and Regional Integration. The public consultation process is directed at persons wishing to share their opinions or suggestions as part of the development of the Bank’s proposed document.

The Draft Strategy, prepared by the IDB’s Integration and Trade Sector with the input of the participants of the first phase of the consultation, explains the principles of integration, offers an analysis of the current status of integration in Latin America and the Caribbean, and presents lessons learned from previous IDB initiatives in the field. The document also proposes to support the region in simultaneous investments in the software (policy and regulatory frameworks) and hardware (physical integration) of integration through a tentative list of areas and actions as well as a new smart-mix of instruments to promote integration in Latin America and the Caribbean as way to increase the region’s competitiveness and create jobs.

Regional and global integration is one of the pillars of the IDB’s New Institutional Strategy that resulted from the agreement among member countries on the Ninth General Increase in the Resources of the Bank. The IDB will direct some $1.8 billion annually to integration (software and hardware) and regional cooperation projects to meet the goals of this mandate.

The consultative process comprises two phases: (i) the first phase, which focused on the strategy’s profile; and (ii) the second phase, which will be carried out on the draft of the strategy itself, which includes several inputs received during the first phase.

To participate in the second phase of the electronic consultation on the Draft Strategy, go to www.iadb.org and send your comments before Feb. 21, 2010, 8:00 p.m. (North American Eastern Standard Time).

In addition to the electronic consultation, the IDB will carry out meetings in member countries with the participation of representatives of civil society, including non-governmental and private sector organizations, as well as specialists and governments.

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