Here are the climate-related sections of speeches by MPs during the Commons debate Draft Inter-American Investment Corporation (Further Payments to Capital Stock) (Amendment) Order 2026.
16:30 Kirsty McNeill (Labour)
The draft order permits the UK Government to make further payments to the Inter-American Investment Corporation, also known as IDB Invest, which is the private sector arm of the Inter-American Development Bank Group, also known as the IDB. The IDB is the largest source of development finance for Latin America and the Caribbean, with the group’s overall financing reaching about $35 billion in 2025 alone. The IDB is a trusted UK partner and is instrumental to the achievement of regional objectives on sustainable development, action on climate change, biodiversity protection and pandemic and disaster preparedness.
Let me highlight a few outcomes that IDB Invest has committed to delivering by 2030 through its new business model and capital increase. It will finance 2.5 million micro, small and medium-sized enterprises, which will in turn support 9.5 million jobs. It will directly support more than 300,000 women in gaining access to finance, jobs, training and entrepreneurship opportunities. It will support 1.6 million of the region’s poor and vulnerable people in gaining access to services, opportunities and resources. It will improve access to agricultural services and investments for 44,000 farmers. It will dedicate at least 60% of its investments to climate and green finance. It will reduce 3.9 million tonnes of CO2 emissions and generate 1,400 MW from renewable resources for new clean energy projects.
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