IFC, Microsoft partner to boost digital transformation in L. America, Caribbean

The International Finance Corporation (IFC) and Microsoft have signed a strategic agreement to boost digital transformation in Latin America and the Caribbean, focusing on sectors like mining, energy, smart cities, transportation, and public services.

Through this collaboration, IFC will provide advisory services and financing, while Microsoft will offer technological solutions, particularly in emerging technologies such as Artificial Intelligence (AI). The partnership aims to enhance digital infrastructure, improve operational efficiency, and drive sustainable development across the region.

According to IFC, global spending on digital transformation is projected to reach nearly $4 trillion by 2027, with Latin America expected to play a significant role.

The adoption of digital technologies is also critical for environmental sustainability, with innovative solutions like smart energy systems helping reduce carbon footprints and achieve Environmental, Social, and Governance (ESG) targets.

Alfonso García Mora, IFC’s Vice President for Europe, Latin America and the Caribbean, highlighted the agreement’s potential to accelerate productivity and inclusion in the region, aligning with IFC’s digital strategy to support sustainable development.

Attribution: IFC

Subediting: M. S. Salama