The ocean is a vital resource for the small island developing States in the Caribbean, as 70% of their population lives along the coast and depends on it for subsistence and income. 

Moreover, their ocean territories range from 0.1x to over 50x larger than their land mass – offering the potential for significant development of the blue economy.

Amazonia, a basin spread over seven South American countries and one overseas territory, is a complex landscape for private investment. 

Although it holds immense potential, it is fraught with environmental, social, and regulatory complexities that pose significant challenges to private investors. Multilateral development banks are in a unique position to address these challenges. 

The insurance industry stands at $7 trillion globally. Unfortunately, it has traditionally been a sector that has taken time to adopt full-scale digitalization. 

Insurtech, a portmanteau of insurance and technology inspired by fintech (finance and technology), aims to find cost savings and efficiency in the current insurance industry model.

Multilateral development banks working with the private sector have a dual mandate: maximizing positive social and environmental impacts while maintaining financial sustainability.  

To support this mandate, development banks seek to provide financing at terms and conditions not available in local markets, targeting these resources to projects they consider have significant developmental impact potential. 

However, financing potentially impactful projects at more favorable terms does not automatically ensure the desired outcomes will be realized. 

In the realm of economic development, the private sector can contribute to poverty reduction by providing employment and through initiatives to improve the well-being of workers and their families. 

Understanding the living conditions and hardships facing employees and their families is key for making strategic decisions that contribute to closing gaps while positively impacting companies' productivity and competitiveness.