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Progress in the Corridors at the Convention on Biological Diversity

Rachel Kyte's picture

Elephants. World Bank/Curt Carnemark

Sometimes, international convention meetings can be heart-breakingly slow-moving. The Convention on Biological Diversity (CBD) – one of the three conventions born after Rio in 1992 to drive sustainable development – which has been meeting in Hyderabad in India this week, is no exception. I’ve seen tough negotiators from all corners of the Earth emerge from conference rooms wearing pained expressions.

It’s outside the negotiating rooms – where the major topic of the moment is how to mobilize the financial resources needed to meet the CBD’s ambitious Aichi Targets – where things are a lot brighter.

Development banks join together to provide funding for Latin America and the Caribbean

Sameer Vasta's picture

Pouring and weighing fresh milk. Colombia. Photo: © Edwin Huffman / World BankThis past Wednesday, leading development banks joined efforts to provide as much as US$90 billion during the next two years in a joint effort to spur economic growth in the Latin America and Caribbean region.

The Inter-American Development Bank and the Inter-American Investment Corporation, the World Bank Group (IBRD, IFC and MIGA), Corporacion Andina de Fomento, the Caribbean Development Bank and the Central American Bank for Economic Integration are all working together to explore new opportunities to protect the economic and social gains achieved in the region during the last five years.

World Bank President Robert Zoellick spoke about the importance of this joint effort:

"Latin America and the Caribbean have achieved substantial economic and social progress over the last five years and we must ensure that this is not lost because of the external shock of the global crisis. We need to avoid a social and human crisis."

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