The International Finance Corporation (IFC) and Microsoft have entered into a strategic partnership to identify and enhance investment opportunities for digital transformation in Latin America and the Caribbean.
The collaboration targets key sectors such as mining, energy, smart cities, transportation, and public services, to promote sustainable development and technological innovation across the region.
Under the agreement, IFC will offer its clients advisory services and financing focused on digital transformation, while Microsoft will provide the latest technological solutions.
The partnership emphasises the adoption of emerging technologies like artificial intelligence (AI) to upgrade digital infrastructure, enhance operational efficiency, and drive productivity in the region.
With global spending on digital transformation projected to approach $4 trillion by 2027, Latin America is poised to play a significant role in this global movement toward digital advancement.
Microsoft Latin America president Tito Arciniega said: “We are convinced that the adoption and integration of technologies like artificial intelligence and cloud computing are essential to stimulate sustainable growth in Latin America and the Caribbean.
“Through this collaboration with IFC, we will work with key sectors for the development of the region, driving the opportunities that these technologies present to Latin American markets.
“Our goal is to empower every company to reach its full potential through technology, creating a positive impact on their activities and the communities in which they operate. We consider this collaboration an important step in that direction.”
Beyond optimising operations, the adoption of digital technologies is essential for advancing environmental sustainability. Innovative solutions like smart energy systems and data-driven resource management can substantially reduce a company’s carbon footprint.
The companies said the technologies not only help achieve international sustainability goals but also support companies in meeting their Environmental, Social, and Governance (ESG) targets.
IFC Europe and Latin America and the Caribbean vice president Alfonso García Mora said: “One of IFC’s priorities in the region is to increase private sector productivity. With this collaboration, we will drive innovation and the adoption of new technologies, key factors in accelerating productivity and inclusion.
“This agreement will allow us to redouble our efforts to support our clients in their digital transformation and continue driving sustainable development in the region.”
Furthermore, the move aligns with IFC’s digital strategy, which aims to remain at the forefront of technological advancements in an increasingly technology-driven world.
