Jerusalem, 2 June, 2026 (TPS-IL) — Israel’s Finance Minister Bezalel Smotrich and Inter-American Development Bank (IDB) President Ilan Goldfein signed a declaration of intent in Washington to promote the establishment of the Isaac Accords Fund, which establishes strategic economic ties with South American countries.
The Fund will operate within the framework of the Bank Group’s activities and will constitute an economic bridge between Israel and the countries of Latin America and the Caribbean.
The Isaac Accords are an initiative to promote political-economic agreements initiated by Argentine President Javier Milei. The agreements are intended to deepen political, economic, and technological ties Between Israel and the countries of the region, and to create a practical framework for cooperation in the areas of infrastructure, innovation, investment, and development.
Through the fund, Israeli innovation and solutions developed in Israel will be able to address the needs and challenges in the countries of the region, in areas where Israel has experience and a significant comparative advantage, including: water, energy, agriculture, food security, digital systems and technology.
The fund will assist in raising and providing public and private sources of financing for development projects, and will effectively pave the way for Israeli companies to expand into the emerging markets of Latin America and the Caribbean, while promoting sustainable growth, economic development, strengthening regional innovation, and expanding collaboration between the public sector, the private sector, and international development institutions.