50th REGULAR MEETING OF THE ALIDE GENERAL ASSEMBLY
Willemstad, Curaçao, MAY 13–15, 2020
KEY TOPIC: The Development Banking System and Digitalization: Opportunities for economic and social transformation and sustainability in Latin America and the Caribbean
Digitalization continues to pose major challenges in Latin America and the Caribbean. Nearly 300 million people experience restraints in connecting with the network and over one-half of the households lack broadband connection. In fact, it has been estimated that the region will need to allocate some US$ 28,000 million a year in order to reach Europe’s levels of connectivity1. Latin American and Caribbean development today cannot be envisaged without the advancement of digitalization. Digital connectivity is equally as important as access to the basic services, inasmuch as that connectivity will make it possible to enhance the productivity, efficiency, and transparency of, as well as access to, health, education and financial services. No solution can be found that does not involve a digital development.
Undertaking digital and technological transformation in the region and in Latin American and Caribbean development finance institutions is a goal that needs to be accomplished. This process should help overcome barriers to more effective and wide-ranging economic and social sector promotion and financing; facilitate financial inclusion and service to the productive and social sectors by incorporating new technologies for attaining financial inclusion of persons, companies, projects and territories; and confront and manage this operation while maintaining a balance between generating its benefits and ensuring the protection and reincorporation into the production process of actors that could be harmed by the undertaking.
ALIDE is the community of financial institutions that generates solutions in Latin America and the Caribbean. Its main objective is to contribute to the economic and social development of the region, through good practices in the financing of development, the promotion of its members, through cohesion activities and strengthening the participation of financial institutions in the process regional economic.