A special governors meeting was called this year on March 24th. The key officials regarding the South American economy were in attendance as well as Felipe Montoro Jens. Felipe, the infrastructure specialist and reporter detailed many topics discussed. The Inter-American Development Bank (IDB) meeting was held in Mendoza, Argentina. Felipe reported Luis Caputo, Dyogo Oliveira, Luis Alberto Moreno and Irene Garrido. Visit on his twitter account for more updates.
Irene Garrido, as the Secretary of State for Economy and Business Support, was there to identify the allocation of Spain investments in South America. Dyogo Oliveira, The Minister of Planning, Development, and Management addressed IDB has, in fact, invested $12.9 billion in loans to Brazil, which is a 20% increase from 2017. However, Dyogo Oliveira continued there is a need for more infrastructure investments for roadwork construction projects and water and sanitation projects also. These projects are needed, Oliveira continued, to support the 4.0 industrial revolution on the horizon. Luis Caputo, who is the Minister of Finance and Chairman of the Board of Directors supported the idea of a financial safety program designed for the private sector.
Luis Caputo and Dyogo Oliveira feel private investments have slowed because of the high risk of participation in the public-private-partnerships. Public-private-partnerships have been proven successful in Brazil. Brazil has invested heavily in PPPs, but the momentum gained is slowing and this due to the high amount of risk taken on by the private business owners. Felipe Montoro Jens reported the governors to want investments from the IDB into studies to identify financial solutions to lower the risk for the private sector.
Felipe also reported Luis Alberto Moreno, the president of the Inter-American Development Bank was also concerned about the condition of the roads and other means of transportation available between the countries in South America. The Economic and Business Support Secretary, Irene Garrido said Brazil is first in line for investments from Spain.