IDB and "la Caixa" Foundation Partner to Boost Silver Economy in Latin America

In a bold and forward-looking move, the Inter-American Development Bank (IDB) and the “la Caixa” Foundation have signed a strategic agreement to co-develop and support inclusive, sustainable, and innovative solutions addressing the growing phenomenon of population aging in Latin America and the Caribbean (LAC). The partnership aims not only to confront the region’s demographic challenges but also to unlock the economic potential of aging populations, laying the groundwork for a dynamic silver economy.

The Demographic Transformation of Latin America

While currently only about 11% of the region’s population is over 60, Latin America and the Caribbean are on track to become one of the fastest-aging regions in the world. According to projections, the proportion of people aged 60 and older is expected to double in the coming decades, placing unprecedented pressures on healthcare systems, pension schemes, housing, and care infrastructure.

However, this demographic shift also presents unique opportunities for job creation, social innovation, and economic diversification—especially in industries tailored to older adults.

Goals of the IDB–la Caixa Agreement

The new agreement outlines a shared vision of active aging, where older adults are not viewed merely as recipients of services, but as valuable contributors to the economy and society. The partnership will focus on:

• Co-financing Projects: These will aim to improve access to financial tools and care services for seniors, ensuring financial inclusion and better quality of life.

• Promoting Knowledge-Based Policies: The initiative will support research, data collection, and advocacy to influence policy environments that enable older adults to thrive.

• Developing a Silver Economy Ecosystem: The partners will foster entrepreneurship and innovation that centers on aging, promoting technologies and business models designed for an aging population.

These actions will be integrated into IDB Cares, the Bank’s flagship initiative to expand access to care services in the region, promoting both gender equity and social inclusion.

Three Pillars of Action

The agreement is structured around three strategic axes:

1. Senior Employment and Entrepreneurship: Programs will focus on reskilling and upskilling older adults, facilitating their integration into the modern workforce, and supporting senior-led startups. The aim is to combat ageism in employment while creating channels for intergenerational collaboration.

2. Longevity-Adapted Financial Services: The partnership seeks to reimagine financial tools—from pensions and insurance to credit products—that are tailored to the realities of longer life spans. This includes promoting financial literacy and services that ensure economic independence in older age.

3. Innovative Caregiving Solutions: Investments will be made in sustainable infrastructure and community-based services that can address the increasing care needs of the elderly. This includes training for caregivers, development of digital health tools, and scaling of inclusive care models.

Leadership Speaks on Vision and Impact

IDB President Ilan Goldfajn emphasized the transformational potential of the initiative:

“With this alliance, we continue to promote a vision where aging can be an economic opportunity. A vision that recognizes the value of older adults as an active force for development, and that creates space for new jobs, adapted financial services, and sustainable care solutions.”

Josep Maria Coronas, Director General of the “la Caixa” Foundation, added:

“Interest in the financial stability of older adults and the dignity of aging has been a core value of the ‘la Caixa’ Foundation since its inception and remains alive today. In our recently presented 2025–2030 Strategic Plan, we reaffirmed this commitment and added new action lines, particularly focused on longevity.”

Unlocking the Silver Economy’s Potential

This partnership is expected to catalyse new public-private collaborations, mobilise funding for age-focused innovation, and establish LAC as a global model for inclusive ageing. By fostering an ecosystem where older adults are seen as economic drivers rather than dependents, the IDB and “la Caixa” Foundation aim to redefine what it means to age in the 21st century.

As life expectancy rises and aging becomes a dominant trend in the region, the creation of age-adaptive policies, products, and services will be essential to ensuring not only economic growth but also social cohesion and dignity for future generations.