The regional growth rate is expected to edge up slightly—from 2.2 percent in 2024 to 2.3 percent in 2025. In this scenario, empowering entrepreneurs and the private sector is essential. They can help fuel needed rapid growth and job creation as central actors in economic progress.
THE WORLD BANK GROUP IN LATIN AMERICA AND THE CARIBBEAN
Latin America and the Caribbean is a region of opportunity and transformation, but it faces major challenges in breaking its cycle of low growth: establishing the necessary conditions to stimulate productivity, accelerate innovation, and generate a greater number of jobs to improve the well-being of families.
With projected growth of 2.3 percent in 2025 and 2.5 percent in 2026, the region needs effective strategies to overcome its structural challenges. The World Bank works with governments, the private sector, and civil society to promote investment, productivity, public-private partnerships, and human capital—essential pillars to energize the economy and create job opportunities.
With projected growth of only 2.1% in 2025—the lowest among global regions—the urgency for effective economic strategies is clear. The World Bank supports countries in tackling structural constraints such as low investment, high debt, weak productivity, and limited access to quality jobs. Special attention is given to women and youth: female labor force participation remains at just 68%, and skill and learning gaps hinder young people’s job prospects. Connectivity is also a barrier, with 17 million workers lacking the digital infrastructure needed to benefit from emerging technologies.
The World Bank’s strategy centers on strengthening human capital, increasing productivity, adapting to climate-related risks, and seizing opportunities in green industries. Public-private collaboration is essential—governments must create enabling environments for inclusive growth, while dynamic private sectors drive innovation, entrepreneurship, and job creation.
In fiscal year 2024, the World Bank approved $9.7 billion for 52 operations in the region, including $9.4 billion in IBRD commitments and $269 million through IDA. It also signed 14 Reimbursable Advisory Services agreements worth $13.2 million with five countries. These efforts are delivering concrete results:
- Job Access & Mobility: Urban transport projects in Brazil and Ecuador are improving mobility and access to employment, while reducing carbon emissions.
- Education: Nearly 13 million people have benefited from World Bank-supported education initiatives. In Costa Rica, one million students and 90,000 teachers are gaining digital and employability skills.
- Health & Water Access: Projects in Haiti and the Dominican Republic are expanding access to clean water, sanitation, and quality health services.
- Economic Reforms: Major programs in Peru and Argentina are promoting formal employment, improving fiscal management, and enhancing labor market systems.
- Green Industries: In Chile, a pioneering project is supporting the development of a green hydrogen industry, generating jobs and boosting competitiveness across key sectors.
Through strategic alliances—such as deepening collaboration with the Inter-American Development Bank—the World Bank is helping countries deliver tangible improvements for their citizens and laying the foundation for long-term development.
BY THE NUMBERS: LATIN AMERICA AND THE CARIBBEAN
Education
Over the past decade, the World Bank has led efforts to address the learning crisis in the region. From fiscal years 2013 to 2023, the institution implemented 48 education projects across 19 countries in Latin America and the Caribbean, with a total investment commitment of US$5 billion.
Amazonia Viva
Amazonia Viva is a World Bank Group initiative that strengthens efforts and collaboration to safeguard natural assets for a healthy forest biome, foster nature-smart and inclusive economic opportunities, and improve living standards for the region’s population.
Health
The new WB-PAHO Lancet Regional Health Americas Commission is examining the future of primary health care in Latin America and the Caribbean to strengthen health systems and enhance resilience against future public health emergencies. The Commission aims to generate knowledge that will guide decision-making for the development of primary health care and resilience across the region.
From Mexico to Argentina, Latin America and the Caribbean is a region of constant progress. It's a place where people grow and adapt, embracing innovation and safeguarding the environment. Here, #WeTakeAction to expand opportunities for everyone.
CONNECT WITH US
Regional Leadership
Chief Economist, Latin America and the Caribbean
Regional Contact
World Bank
1818 H Street NW, Washington, DC 20433 USA
LACinfo@worldbankgroup.org
