The Inter-American Development Bank's innovation laboratory, IDB Lab, has launched two innovative initiatives to protect biodiversity and promote sustainable development in the Amazon basin. The move was announced in Manaus, Brazil, during the Sustainability Week of IDB Invest, the private sector arm of the IDB Group, an event where global and regional leaders joined forces to foster sustainable solutions for the Amazon region.
The approved projects, Amazon BeEco and ReGenerate Accelerator and Investment Fund for the Amazon, will provide bioeconomy training for families, communities and early-stage businesses, and are part of the Amazonia Forever program, the IDB Group's initiative to safeguard the basin’s ecosystem while promoting sustainable economic growth.
Amazon BeEco: This is an effort to increase family incomes and community biobusinesses in the Amazon regions of Brazil, Colombia, Suriname, Ecuador, Guyana and Peru. The project seeks to provide training in sustainable skills to benefit 8,000 families and enable sustainable management of at least 400,000 hectares of land within four years.
The program, which will be implemented by Conexsus and the Institute for Sustainable Connections (ISC), will provide participants with access to networking, training activities, and financial, technical, technological and commercial solutions.
ReGenerate Accelerator and Investment Fund for the Amazon: This is a fund to invest in bioeconomy companies with high regenerative potential operating in the following Amazon countries: Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru and Suriname. The proposed intervention aims to fill financing gaps, scale businesses and boost the regenerative economy in Latin America and the Caribbean. Companies already operating with a minimum viable product (MVP) will receive support in the form of investments to boost their growth.
The Fund will be managed by KTPL/Kaeté, a local fund management company with extensive experience in identifying early stage sustainable biobusinesses.
"Bioeconomy is one of the pillars of Amazonia Forever, our umbrella and holistic program focused on sustainable development in the region. Besides, in order to promote the bioeconomy market, it is essential to support local, small and medium-sized community and family businesses. The projects announced have that focus and will help boost the potential of the Amazon countries," said Morgan Doyle, IDB Group representative in Brazil.
IDB Lab CEO Irene Arias Hofman added, "Bioeconomy provides an opportunity to transform sustainable development in the Amazon region. From nature-based solutions to biotechnology to regenerative agriculture, bioeconomy permeates several sectors and has the potential to foster economic growth, quality employment and environmental stewardship."
About IDB Lab
IDB Lab is the innovation and venture laboratory of the Inter-American Development Bank Group. Our purpose is to discover new ways to drive social inclusion, environmental action and productivity in Latin America and the Caribbean. IDB Lab leverages financing, knowledge and connections to support early-stage entrepreneurship, foster the development of new technologies, activate innovative markets and catalyze existing sectors. Visit our website www.idblab.org.
About IDB Invest
IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and over 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website www.idbinvest.org/en.
About Amazonia Forever
Amazonia Forever is the IDB Group's flagship program dedicated to the preservation and sustainable development of the Amazon Basin. The program seeks to address the critical environmental challenges of this region through innovative projects that promote conservation, sustainable lifestyles and climate resilience. For more information, click here.
Maria De Gador Manzano Guillen
Communications Lead Specialist
IDB Invest flagship event in Manaus, Brazil, where more than 500 global leaders will gather to discuss how the private sector can play a leading role in scaling impact in Latin America and the Caribbean.