IDB to Help Modernize Latin American, Caribbean Postal Services

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The Inter-American Development Bank (IDB) says it has signed an agreement with the Universal Postal Union (UPU) to modernize and transform postal services in Latin America and the Caribbean (LAC).

It said the aim is to promote regional integration and trade, strengthen value chains and foster the digital economy.

Postal services have unique advantages to facilitate trade, including a network that can reach remote areas, transaction logistics, and linkages with other postal services and key actors in the trade process, such as customs and airlines.

The IDB said improving these services across the region can lead to increased commerce and help develop the digital economy, especially for small and medium-sized firms (SMEs), which account for about 99 percent of businesses in Latin America and the Caribbean.

“Posts have the mandate and infrastructure to serve people in all corners of a country, making them a powerful engine for socioeconomic development and inclusion. We are pleased to work with IDB to help posts across Latin America and the Caribbean in their transformation journey so that they can deliver modern services and maximize benefits to communities and businesses across the region,” said UPU Director General Masahiko Metoki.

IDB President, Mauricio Claver-Carone, said ‘we are thrilled to announce our partnership with UPU, which puts into practice our shared vision on the potential of modern postal services to boost the region’s connectivity, trade and value chains – all priorities of Vision 2025, the IDB’s agenda for driving inclusive growth”.

The IDB said the partnership will allow it to support countries as they incorporate the international guidelines and standards issued and promoted by the UPU.

The institutions will also collaborate in researching data on trends and identifying existing gaps in postal services. The agreement includes sharing best practices and expertise from the modernization of postal services at the global level, which can be adapted and replicated in the region.

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