Sherrica Thompson

Staff Writer

#Caribbean, August 26, 2022 – The Inter-American Development Bank (IDB) and the Universal Postal Union (UPU) have signed an agreement to modernize and transform postal services in Latin America and the Caribbean, intending 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. 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% of businesses in Latin America and the Caribbean.

UPU Director General Masahiko Metoki said the UPU is pleased to work with the IDB to help posts across the Americas in their transformation journey.

“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,” Metoki said.

President of the IDB, Mauricio Claver-Carone, also commented on the partnership.

“We are thrilled to announce our partnership with UPU, which puts into practice our shared vision of 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,” he said.

The partnership will allow the IDB 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.