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Valerie Lorena's picture

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A boat trip from Port Elizabeth to Kingstown, in the Caribbean country of Saint Vincent and the Grenadines, is a one-hour trip that locals take several times a day. It was during one of these journeys that the boat of Kamara Jerome, a young Vincentian fisherman, ran out of gas six miles from Bequia City in what is termed locally as the "Bequia Channel." While waiting for help with strong wind gusts and the sun on his head, the idea of developing a boat that would run with wind and solar energy was born. Soon after, the idea became a prototype; a boat using green technology was on the water making 20-year-old Jerome a winner of international innovation competitions and a role model to other Caribbean youth. 
 
In Mexico, young engineer Daniel Gomez runs a multimillion bio-diesel company originally conceived as a research project for his high school chemistry class. Gomez and his partners - Guillermo Colunga, Antonio Lopez, and Mauricio Pareja - founded SOLBEN (Solutions in bio-energy in Spanish) in their early twenties. 
 
Although Daniel and Kamara have different educational backgrounds, they do share one important skill, the ability to identify a problem, develop an innovative solution, and take it to the market. In other words, being an entrepreneur, an alternative to be economically active, that seems to work and not only for a few.

Bridging the Gap in LAC Infrastructure

Karin Erika Kemper's picture


The other day I had the opportunity to participate in the annual CAF conference on Infrastructure, this time held in Mexico City. The conference featured CAF's new IDEAL report on the state of infrastructure in Latin America and the conference, attended by many decision and opinion makers from across LAC, was organized around findings of the report.
 
I had a few takeaways from the discussions, notably that (1) there is convergence on a range of key issues and (2) there are some important Bank messages that are unique:

Pensioners Paying for Projects: A new meaning for PPP in Latin America?

Daniel Pulido's picture
Follow the author on Twitter: @danpulido
 
Public-Private Partnership (PPP) projects in infrastructure have traditionally been financed by banks. However, interest in new funding sources is increasing as long-term money from banks has become more difficult and expensive to get, while the assets held by pension funds and other institutional investors have continued to soar. In a context of low bond yields, pension funds are looking for attractive long-term investment opportunities to diversify their holdings and meet their long-term payment obligations. Realizing an opportunity to match supply and demand, governments and investors in the developed and developing world have turned their attention to Project Bonds, debt instruments issued by PPP project companies in the capital markets as a way to fund infrastructure investments.

These “Project Bonds” mostly target institutional investors - including pension funds, and have generated a great deal of interest among investment bankers, lawyers and investors. All this hype raises a number of questions: Are these “Project Bonds” really living up to expectations? Can governments really rely on Pensioners Paying for Projects (a newfound meaning for PPPs!)? What do we need to do to turn these instruments into a significant source of financing and close the infrastructure investment gap?

Low Growth as a Threat to Latin America’s Social Gains

Augusto de la Torre's picture

For almost a decade, the large emerging market economies, including several countries in Latin America and the Caribbean (LAC), have been regarded by analysts and investors as new engines of growth. The enthusiasm was further sparked when, after a short pause in 2009, emerging economies actually led the economic recovery in the world. A new story line seemed to dominate, that emerging market economies had finally arrived.

Compacts for Equality: Towards a Sustainable Future

Alicia Bárcena's picture
In every forum where the future of Latin America and the Caribbean is analyzed, the same question in different forms is often heard: how can the region sustain and expand on the important economic and social achievements made in recent decades in a context of deceleration and high global volatility, such as the current one?

How to Take Control of your Personal Finances

Rekha Reddy's picture


​Many of our aspirations revolve around improving our personal finances—keeping better track of spending, saving towards a goal or perhaps getting out of debt.  How can we work towards these goals and follow through on these changes? 

Latin America and the Caribbean: Back to Normal?

José Juan Ruiz Gómez's picture


The ritual publication by the leading multilateral organizations, think tanks and investment banks on the macroeconomic outlook for Latin America and the Caribbean which, without being too dramatic, puts an end to the era of growth rates above the region’s potential, has inevitably attracted the interest of policymakers, investors and the public in general.

Liberen Los Datos: Supporting Entrepreneurial Open Data Do-Gooders

Sandra Moscoso's picture

The open data community is chock-full of do-gooders. 
 
There are "open" data-driven applications that track government legislation in the US, tools that help calculate taxi fares in Bogota, Colombia, applications that track how tax payer funds are spent in the UK, the state of school sanitation in Nepal, and many more. 
 
It's clear that innovators are out there and full of terrific ideas about how to help their fellow citizens by harnessing public data. The question is, how can more of these projects follow examples like GovTrack and transition from hobby to successful, sustainable business models? And while there may be technical talent out there, what about entrepreneurial skills? How many data rockstars out there also have the "courage to create a business"?
 

Buenos Aires: How the Maldonado stream went back to its bed

Maria Madrid's picture
The case of the Maldonado stream: The voice of a citizen

Imagine a busy metropolitan avenue crossing the length of Buenos Aires, Argentina, transited daily by buses and trains and lined with a large hospital, medical buildings, schools, shops and businesses.

Now imagine for 27 years this avenue flooding severely 37 times as if it were a river. During a flood, envision people being evacuated in motorboats, cars practically floating downstream, and cars and pedestrians on the bridge above it having to remain stranded there until the waters on the avenue below receded. It sounds implausible doesn’t it? Not for Buenos Aires residents it didn’t. The Juan B. Justo Avenue was such a thoroughfare.

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