The innovation laboratory of the Inter-American Development Bank, IDB Lab, has launched two innovative initiatives to protect biodiversity and promote sustainable development in the Amazon basin.
The announcement came during IDB Invest Sustainability Week, the arm of the IDB Group that works with the private sector, in Manaus, Brazil. The event brought together global and regional leaders to join forces in the search for sustainable solutions for the Amazon region.
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ReGenerate for the Amazon and Amazon BeEco seek to develop greater bioeconomy training in families, communities and early-stage businesses in the Amazon region and are part of the Amazonía Siempre program, the IDB Group’s initiative to safeguard the Amazon ecosystem while promotes sustainable economic growth, the IDB published in a note.
Bioeconomy in families
Amazon BeEco: It is a regional effort to increase the income of families and biobusinesses of communities in the Amazon regions of Brazil, Colombia, Suriname, Ecuador, Guyana and Peru. The project seeks training in sustainable skills to, within four years, benefit eight thousand families and enable sustainable management of at least 400 thousand hectares of land in these regions.
Participants will have access to networking, training activities, and financial, technical, technological and commercial solutions with this program, which will be executed by Conexsus and the Institute for Sustainable Connections (ISC).
ReGenerate accelerator and investment fund for the Amazon: It is a fund to invest in bioeconomy companies with high regenerative potential that operate in the following Amazon countries: Bolivia, Brazil, Colombia, Ecuador, Guyana, Peru and Suriname. The proposed intervention aims to fill financing gaps, scale businesses and boost the regenerative economy in Latin America and the Caribbean. Companies that are already operating with a minimum viable product (MVP) will receive support in the form of investments to drive their growth.
The Fund will be managed by KTPL/Kaeté, a local fund management company with extensive experience in identifying sustainable biobusinesses in their early stages.
“The bioeconomy is one of the pillars of Amazonía Siempre, our umbrella and holistic program focused on the sustainable development of the region. And, to promote the bioeconomy market, it is essential to support local community and family, small and medium-sized businesses. The announced projects have that focus and will help boost the potential of the Amazon countries,” said Morgan Doyle, representative of the IDB Group in Brazil.
