The Inter-American Development Bank (IDB) and NEC Corporation signed a new agreement to develop joint initiatives in connectivity, digital infrastructure, and digital solutions for development in Latin America and the Caribbean (LAC) on Monday.
The IDB said that the agreement aims to enhance policymakers’ and corporate leaders’ knowledge and technical skills, strengthen institutions in Latin America and the Caribbean, and improve government services to empower vulnerable populations.
“The areas covered by this agreement build on our joint commitment and are critical for developing Latin America and the Caribbean. Our primary focus will be to offer digital solutions to governments to serve their populations, especially the vulnerable ones. I want to thank the NEC Corporation for their unwavering commitment to the region,” said IDB President Ilan Goldfajn.
President and executive officer of NEC Corporation, Takayuki Morita, said the partnership with the IDB goes back many years, “and I am proud to see us reinforcing our commitment to improving the quality of life for people throughout Latin America and the Caribbean.
“New advancements in technologies such as biometrics and AI provide us with opportunities to contribute to the well-being of communities in new and exciting ways. I look forward to delivering on the promise of these products and solutions through our expanding collaboration,” Morita added.
Under the agreement, the IDB and the NEC Corporation, a leading Japanese multinational company specialising in integrating IT and network technologies, will invest in knowledge programs through conferences and workshops on digital infrastructure and technology applications, including artificial intelligence (AI).
The partnership includes training, capacity building, course and material development, collaborating on proof of concepts, pilot programs, and identifying potential co-financing or co-investment projects in Latin America and the Caribbean.
The agreement additionally incentiviSes collaborations in areas such as citizen’s security and models for climate resilience, as well as potential engagements with IDB Invest and IDB Lab further ahead.
