A USD157,500 pre-concept paper support grant to spark digital transformation and cybersecurity integration in Latin America and the Caribbean was approved by the Multilateral Cooperation Center for Development Finance (MCDF) Governing Committee at its meeting in Samarkand, Uzbekistan on 24 September. The pre-concept paper support will be implemented by the Development Bank of Latin America and the Caribbean (CAF).
The MCDF grant will fund early project preparation work to identify investment opportunities in digital transformation and cybersecurity in the region, in recognition of their rapidly increasing importance for shared development and risk mitigation.
It will begin with an initial assessment of the current state of the digital transformation landscape and related domestic support strategies in Latin America and the Caribbean, with a particular focus on cybersecurity measures.
The aim is to highlight digitalization gaps, lessons and best practices, project pipelines, and the potential for greater cooperation across Latin America and the Caribbean, drawing upon a detailed analysis of country and regional-level vulnerabilities in critical infrastructure. It will cover sectors such as energy, finance, health, transport, and telecommunications.
This includes exploring the potential for shared digital infrastructure among countries in the region, harmonizing cybersecurity regulations, and collaborative incident response mechanisms.
These MCDF-supported activities will lay a foundation for designing one or more pilot investment projects to enhance digital transformation and cybersecurity under a regional collaboration framework, to be potentially taken forward by CAF and MCDF.
Contact
David Hendrickson
Senior Communications Officer
Mobile: +86 185 0114 6758
david.hendrickson@themcdf.org
