Israel Partners With IDB to Establish Cybersecurity Initiative in the Caribbean

WASHINGTON, D.C. – The Inter-American Development Bank (IDB) says the Government of Israel, through its Ministry of Finance (MoF) and the National Cyber Directorate (INCD), has joined the IDB to establish a new cybersecurity initiative in Latin America and the Caribbean. 

Israel's Finance Minister, Avigdor Liberman. (Photo by Yonatan Sindel/Flash90)Through a US$2 million contribution, the Washington-based financial institution said Israel is helping strengthen cybersecurity capabilities in the region. 

This contribution is an additional floor for the cybersecurity efforts carried out since 2016 by the IDB, with Israeli support. 

“Digital transformation can be the bedrock for historic development opportunities across Latin America and the Caribbean, but we must ensure the benefits of digitalization are adequately protected against inherent cyber risks by leveraging the best available cybersecurity measures and capabilities,” said IDB President Mauricio Claver-Carone. 

“Thanks to Israel’s financial support, unique expertise, and our expanding partnership, we will be better positioned to help our member countries apply top-tier standards to withstand the most difficult threats,” he added. “Israel is a recognized global leader in cybersecurity and digital innovation—and we are grateful for this collaboration.”

Matan Lev-Ari, Israel’s representative at the IDB’s Board, said “the cybersecurity initiative is paving the way for the safe and secure digitalization of Latin America and the Caribbean, one of the key elements for growth in the post-COVID era.

“The successful synergy between Israeli technology and the IDB presence in the region will provide governments in LAC (Latin America and the Caribbean) state-of-the-art tools and knowledge to assess their cybersecurity needs and tailor effective policy, capacity building and protection strategies,” Lev-Ari added. 

Avigdor Lieberman, Israel’s Minister of Finance, said the Joint Fund of the Government of Israel and the Inter-American Development Bank is “another pillar in Israel’s commitment” to the region and “an example of the recognition of cybersecurity as a key element in development operations.”

“Israel is a world leader in cybersecurity and as such, understands the importance of strong, reliable and accessible cyber technology,” he said. “Digitalization can assist in the efforts reducing inequality, improving transparency and uprooting corruption, but require special safekeeping. Israel is a proud member of the Inter-American Development Bank that works tirelessly to assist in the development of Latin America and the Caribbean. 

“The Fund is an additional component of the longstanding partnership between Israel and the IDB,” he said 

The IDB said Israel’s funding will help build cyber capacity across the region by giving officials and policymakers access to the forefront practices and world-leading knowledge and expertise. 

“The initiative builds on cybersecurity work done by the IDB and Israel since 2016 and aims to enhance cybersecurity at the national level, strengthen cybersecurity capabilities across different economic sectors providing critical services, and improve organizational capacity to boost cyber defenses,” the IDB said. 

“As countries in the region increasingly embrace digital technologies to accelerate development, strengthening cybersecurity becomes ever more essential,” it added. “This is critical not just to safeguarding public services and protecting data, but also to safeguarding the rights of individual citizens in the digital sphere, protecting critical infrastructure, promoting trust in technology, and driving a safe, inclusive digital transformation. 

“All of that, in turn, is critical to promoting digitalization throughout society,” the IDB continued. “Digitalization is key to improving public services, enhancing education, empowering businesses and creating jobs. That is why it is a key pillar of Vision 2025, the IDB’s blueprint for powering economic recovery and sustainable development.”