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FEATURE STORYDecember 19, 2023

Seven innovative actions for Latin American and Caribbean development

The World Bank

Students of the Monseñor Áscar Arnulfo Romero Educational Complex participating in a sports class.

World Bank

The peoples of Latin America and the Caribbean are known to thrive on success. Even when facing major challenges, their stories of innovation and creativity are worth telling. Thanks to the hard work of those who live and invest in it, our region comes to the end of 2023 with obstacles overcome and goals met due to the innovation and creativity of its people.

This year, like every year, the World Bank has shared in the region's development, keeping abreast of worthwhile projects and stories. The Seven outstanding initiatives of 2023 outlined below show how #WeTakeAction in a region that does not stand still, but one that is constantly transforming:

1. First steps of a historic agreement for Latin America and the Caribbean: In 2023, the World Bank and the Inter-American Development Bank (IDB) jointly introduced a flagship agreement to work toward transforming education systems through digitalization, promoting sustainable development in the Amazon and climate resilience in the Caribbean. The first step in this agreement? A political commitment to improve the education of 3.5 million students by providing support to 350,000 teachers in 12,000 schools in 16 countries in the region.

Video in Spanish

2. A pioneering loan to reward Uruguay for meeting its ambitious environmental goals. This Development Policy and Reform Implementation Loan was aimed at supporting Uruguay's reform agenda to foster more sustainable, strong and resilient economic growth. The country could reduce its interest payments by USD 12.5 million if it were to achieve a verifiable decrease in methane gas emissions produced by its livestock sector. Have a look at the infographic to learn more about this innovative solution that can benefit other countries in the region and around the world.

Uruguay Financial Mechanism


3New productive methods for La Moskitia in Honduras: The World Bank has supported the people of La Moskitia to expand their socioeconomic activities and improve their living standards. The project, Improving the Livelihoods of Indigenous Miskito Peoples in La Moskitia, works with local communities to develop a sustainable, diversified and resilient local production system in the light of the many external shocks, including climate change, faced by the communities.

Video in Spanish

These initiatives demonstrate the potential of an innovative region that is not standing still. The region seeks to maximize productivity through joint creative efforts that seek to improve education, bolster opportunities and mitigate the negative effects of climate change – all aimed at achieving the goal of ending poverty and building a livable planet.


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