…as IDB targets infrastructure gap
(Kaieteur News) – Guyana is among 17 Latin American and Caribbean countries showcasing more than 110 transportation investment projects valued at over US$65 billion as the Inter-American Development Bank (IDB) Group seeks to accelerate infrastructure development across the region.
The projects were presented at the LAC Transport Forum 2026 in Miami, bringing together government representatives and private-sector leaders to mobilise financing and improve the scale, quality and delivery of major transportation projects.
Guyana’s participation places the country alongside Argentina, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Panama, Paraguay, Peru, the Dominican Republic and Suriname in discussions aimed at attracting investment into the region’s transport infrastructure.
According to a press release from the IDB, the forum comes as Latin America and the Caribbean faces a massive infrastructure deficit. The IDB estimates that the region needs to invest about 3.5 per cent of its gross domestic product annually through 2030—more than US$1.6 trillion—to close the gap. More than US$630 billion of that requirement is expected to be needed for transportation.
For Guyana, the push comes amid an unprecedented expansion of infrastructure spending, with major investments in roads, bridges, highways, drainage and connectivity being undertaken as the country seeks to transform its transportation network.
The IDB said the region also faces significant inefficiencies in the way infrastructure investments are planned and executed, estimating that one out of every two dollars allocated to infrastructure is lost through inefficiencies. IDB Group President Ilan Goldfajn said investment performance could be improved substantially without increasing public spending. “We can improve the performance of infrastructure investments by up to 35% without increasing public spending,” Goldfajn said. “The goal is more and better infrastructure, and greater impact for people.”
The forum also featured an extensive round of meetings between governments and private companies, aimed at connecting projects with potential investors and service providers. The IDB used the forum to launch Transport Delivers, a regional platform designed to improve the quality, transparency and competitiveness of transportation infrastructure investment.
The platform will support reforms under the IDB’s Procure+ initiative, focusing on project planning, bidding and contracting. According to the IDB, greater competition in procurement can produce significant savings. Each additional bidder is associated with average price reductions of between 2 per cent and 8 per cent, while considering quality alongside price can reduce the total cost of infrastructure assets over their useful lives by between 5 per cent and 20 per cent.
Transport Delivers has already secured US$2.5 million in contributions from Spain and Japan and is seeking a further US$10 million from donors over the next five years. The initiative aims to improve the conditions for approximately US$20 billion in transportation investments across the region.
The IDB said the projects being advanced through the forum are intended to strengthen connectivity, competitiveness and regional integration, while encouraging greater private-sector participation. For Guyana, where billions of dollars in infrastructure projects are being rolled out against the backdrop of rapid economic growth, the emphasis on competitive procurement, project planning and value for money could have significant implications for how future transport investments are financed and delivered.
Source: Kaieteur News
