Thank you, Governors, for coming to beautiful Chile and our Annual Meetings. It was a great event! 

Thank you, Chile, for hosting us so well. The Meetings brought together almost 4,800 participants from 59 countries – ministers, delegates, students and civil society organizations. Over 800 private-sector representatives, from corporates to banks, also took part, underscoring the IDB’s relevance to businesses. Engagement in meeting rooms and speed dating was frenetic, showing the level of commitment to the region’s future.

It has indeed been a very busy few days, and I want to start by thanking you for your time. For me, it was the longest I’ve stayed in one country since I joined the IDB, including the Annual Meetings in Panama and Punta Cana. 

This year, I started in beautiful Punta Arenas and the investors conference. Then, here in Santiago, the civil society event, the thematic seminars with Nobel Prize winners and specialists, the launching of several initiatives, the signings and bilaterals, the private-sector event, the media and communications, the opening with President Boric, and then our official meetings since Friday. 

As President Boric reminded us, the idea of hosting these Meetings in Santiago began back in 2022. I want to thank Minister Marcel for his vision and for insisting with President Boric to bring these Annual Meetings to life. 

And it was wonderful that we were able to hold them here in Mapocho Station. This space began as connection point, linking Santiago to northern Chile through rail. When train traffic declined, it didn’t disappear; it transformed. Today, as a cultural center, it connects people through ideas, art, and public life. 

Its story is one of connection, resilience, and flexibility – not just in purpose, but in structure, too! I learned that it was built with imported steel pillars designed to flex under pressure. It shows that by bending, it avoids breaking. Flexibility is a strength; it’s what makes resilience and change possible.

Let me start by saying that I am very happy about the outcome of these Meetings. It was not about big resolutions or decisions, like the three transformational changes – IDBImpact+ – that we agreed in Punta Cana. But, like the steel pillars of Mapocho, these Meetings showed that we are also flexible and resilient, and that makes us strong – that we have come together, with common interests that united us more than the differences that we eventually may have. And these common interests come from the needs and desires of the people of the region that we are committed to serving.

I am also touched by your continued trust in the IDB – your support on the implementation process for our strategy and reforms, and your support for both the business models of IDB Invest and IDB Lab, and their capitalization and replenishment. 

I am also happy about our discussions. They were positive in tone and with a constructive approach that gives us the strength to continue working and fostering agreement and consensus to achieve more impact and scale in our work. 

What we heard from Governors on IDBImpact+

Like the trains in the past at Mapocho, the IDBImpact+ train has left the station.

A year ago in Punta Cana, you approved IDBImpact+, which included three transformational changes: IDBStrategy+, IDBInvest+, and IDBLab+. Today, we heard your support for implementation.

We are committed to continuing the implementation of IDBImpact+, including the capitalization and replenishment processes, and the new business models for IDB Invest and IDB Lab. They are essential to continue our transformation into a private-sector MDB, leveraging our extensive public-sector experience for synergies that benefit all. 

There was broad recognition of the progress we have made on becoming a more effective institution — and also, a call for continued work to make it more impactful.

Many of you welcomed our efforts to modernize financing instruments, and we will continue working on the next steps ahead. 

We need to focus on our end results. I just want to highlight this with one example of a signing here in Chile, during the Annual Meetings: a small loan with big impact for Isla de Pascua – bringing clean energy and reliable water to one of the most remote places in the world. It’s a clear reminder that the IDB is a true bridge – reaching even the farthest corners of our region to deliver results.

Governors’ feedback on areas of common interest

Many of you stressed the value of coming together around shared priorities. We heard strong support for areas where the IDB can help build common ground: 

• fostering development through the private sector, with enabling conditions provided by the public sector;
• investing in resilience, including to natural disasters; 
• and providing security in several dimensions – economic, but also citizen security, all relevant to alleviate poverty and root people in their home countries; 
• and last, but not least, prioritizing effectiveness and improving how we all work, to focus on our end results.  

We are responding to the region’s needs and our members’ priorities. These are just a few examples; there are others. All are critical to strengthening prosperity. And as we all know, the more prosperous Latin America and the Caribbean is, the safer and more prosperous the entire hemisphere will be.

You also underscored the IDB’s role in the global forum, fostering MDBs’ working together as a system. And our role as a bridge between Latin America and the Caribbean and the world. This means positioning the region as part of the solution to global challenges. 

IDBInvest+ and IDBLab+ — progress and next steps

These Annual Meetings also brought real momentum on the capitalization process for IDB Invest, following the approval and commitments we jointly made last year in Punta Cana. 

A year ahead of the March 2026 deadline, the subscription process for 33 of our member countries, representing more than 70% of the capital increase (GCI–III), is either complete or in progress.

In fact, we now have 19 member countries that have already subscribed their shares for a quarter of the capital increase. Another 14 member countries have indicated that they have advanced with internal approval steps with their legislative or other authorizing bodies. 

This is a remarkable success, and we are very grateful for your support. 

We have also heard your statements regarding the replenishment of IDB Lab, following the approval of the replenishment (MIF IV) in Punta Cana. As of now, I have heard that 12 countries – representing 33% of the total pledged – have submitted their instruments of acceptance and contribution, and several others will come out in the near future. 

Again, we thank you for this strong show of commitment.

Signings

We signed 11 agreements during these Meetings – ranging from connectivity to trade, social protection to innovative financial instruments. 

We have launched three initiatives – Ready and Resilient Americas, South Connection, and IDB Cares – all of which capture the spirit of collective action.

These Meetings were about vision, persistence, and the value of coming together.

We’re not just talking about reforms. We are in full implementation mode, doing the hard work. Together. 

Let’s carry that momentum forward. There’s more to do, and we’re ready to do it – with your trust, your guidance, and your partnership.

Before I close, let me leave you with a short video on IDBImpact+ 11. It captures what this transformation looks like for us – with real images and real impact from our region!

Gracias, thank you, obrigado, merci!