The International Finance Corporation (IFC), the largest global development institution focused on the private sector in emerging markets, and tech giant Microsoft have signed a strategic agreement to identify and enhance investment opportunities in digital transformation across Latin America and the Caribbean.
This collaboration, the partners explain, focuses on sectors such as mining, energy, smart cities, transportation and public services, with the goal of driving sustainable development and technological innovation in these industries throughout the region.
Through this agreement, IFC — a member of the World Bank Group — will provide its clients with advisory services and financing aimed at digital transformation, while Microsoft will contribute its technological solutions. The partnership focuses on emerging technologies such as artificial intelligence (AI) to transform digital infrastructure, improve operational efficiency and boost the region's productivity.
Global spending on digital transformation is expected to reach nearly US$4 trillion by 2027, and Latin America is positioned to be a key part of this global push toward digital transformation.
As the partners explain, in addition to optimising operations, the adoption of digital technologies plays a crucial role in promoting environmental sustainability. Innovative solutions, such as smart energy systems and resource management based on data analytics, can significantly reduce companies' carbon footprint, contributing to the achievement of international sustainability goals and supporting companies in meeting their environmental, social and governance (ESG) targets.