IDB, World Bank, and CAF Unite to Tackle Transnational Organized Crime in Latin America and the Caribbean

The summit featured key regional leaders, including Ecuadorian President Daniel Noboa and Interior Minister Mónica Palencia, as well as ministers of interior and justice from 13 other countries.

The Inter-American Development Bank (IDB), the World Bank, and CAF—development bank of Latin America and the Caribbean—have announced a new partnership to enhance cooperation in addressing the growing threat of transnational organized crime in Latin America and the Caribbean. The agreement was revealed during the Regional Security Summit, held in Guayaquil on August 19-20, and organized by Ecuador's Ministry of the Interior and the IDB. The summit featured key regional leaders, including Ecuadorian President Daniel Noboa and Interior Minister Mónica Palencia, as well as ministers of interior and justice from 13 other countries.

The collaboration agreement outlines five key areas of focus:

Knowledge and Research Production and Dissemination: Enhancing the understanding of organized crime through rigorous research and widespread dissemination of findings.

Academic Collaboration and Development: Strengthening partnerships with academic institutions to develop expertise and innovative approaches.

Policymaker and Expert Engagement: Facilitating dialogue and collaboration among policymakers, experts, and stakeholders to craft effective strategies.

Statistical Integration and Standardization: Improving the quality and consistency of data on crime, enabling better analysis and decision-making.

Policy Support and Resource Mobilization: Exploring opportunities to co-finance and develop capacity for crime prevention policies, and mobilize resources to combat organized crime more effectively.

IDB President Ilan Goldfajn emphasized the importance of this partnership, stating that it will help coordinate efforts across the region to combat organized crime, a major contributor to the deepening security crisis in Latin America and the Caribbean.

World Bank Vice President for Latin America and the Caribbean, Carlos Felipe Jaramillo, highlighted the critical role of addressing violence and organized crime in fostering economic growth and eradicating poverty in the region. He noted that the collaboration will facilitate the development of solutions that can improve lives across Latin America and the Caribbean.

CAF Executive President Sergio Díaz-Granados pointed out the alarming homicide rates in the region, largely driven by organized crime, and stressed the need for a deeper understanding of the issue. He expressed confidence that the multilateral agreement would provide the insights necessary to combat this rising tide of violence, which is essential for sustainable development.

Following the signing of the agreement, the three institutions will develop a roadmap to guide their collaborative efforts towards achieving the outlined objectives.