New Swedish contribution to Multilateral Investment Fund

The Fund harnesses financing and knowledge to support entrepreneurs at an early stage. The MIF/IDB Lab supports the development of new technologies and acts as an innovation laboratory promoting private sector-led innovation. The aim is to create jobs, promote new forms of cooperation between the private and public sectors, increase productivity and gender equality and address climate change. The Fund plays an important role in the IDB Group’s work on issues concerning migration, innovation within public services, and digital transformation of small and medium-sized enterprises. The goal is to achieve development results and create opportunities for poor and vulnerable population groups in Latin America and the Caribbean.

“The Government continues to invest in innovative solutions for small and medium-sized enterprises, private sector and job creation. The Multilateral Investment Fund is a good example of this work. It plays a key role in the Inter-American Development Bank’s efforts to support millions of people displaced by complex social, economic and climate-related challenges in the region. It also promotes innovative solutions to support returnees and host communities. The Fund plays a leading role in enabling a new wave of entrepreneurial solutions that can alleviate poverty, tackle the climate crisis and promote inclusive growth in the whole region,” says Minister for International Development Cooperation and Foreign Trade Benjamin Dousa.

In line with the IDB’s institutional strategy, efforts target addressing social issues, promoting sustainability in the region, including the Amazon, and developing physical and digital infrastructure. Activities also focus on resource mobilisation and facilitating the private sector’s engagement. 

The Fund has previously carried out projects for women entrepreneurs, with a focus on strengthening women’s economic empowerment and small businesses. MIF/IDB Lab has played a unique role as an innovative laboratory within IDB to support start-ups that cannot be financed through IDB Invest. Through the use of experimental methods and risk-taking opportunities in its projects, the Fund works with small, innovative projects, with the goal of scaling up effective and successful projects through the IDB group. Together with IDB Invest’s new business model, IDB Lab has great potential to contribute to economic growth in the region, led by the private sector.