A USD 1.575 million grant to support a Development Bank of Latin America and the Caribbean (CAF) project that will create a network of high-performance computing (HPC) centers for artificial intelligence (AI) growth in the region was approved by the Multilateral Cooperation Center for Development Finance (MCDF) Governance Committee during its meeting in Egypt’s New Administrative Capital on 21 September.

MCDF’s underlying investment aims to enhance the research, development, and application capabilities of AI solutions through the HPC network, to start in Chile and the Dominican Republic. It will allow the processing of advanced AI models to help solve complex public problems, advance digital transformation and connectivity, and improve quality of life in the region.

“Looking ahead to the future of Latin America and the Caribbean, we envision a network of high-performance computing centers that will redefine our strategies for addressing complex societal challenges,” explained Gabriel Felpeto, CAF Chief Financial Officer and Vice President of Finance. “These centers will provide the computational capacity necessary to confront pressing issues in security, mobility, healthcare, agriculture, climate change, and environmental preservation.”

The activities to be financed by the MCDF grant will include HPC supply and demand analysis; a diagnostic assessment and roadmap for constructing HPC centers in Chile and the Dominican Republic; and an investment proposal based on technical, operational, legal, environmental, social, governance, and institutional assessments.

The best practices and lessons learned will pave the way for comparable HPC center investments in other countries across Latin America and the Caribbean.