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In post-conflict Colombia, the government has prioritized resettlement of displaced people through development of strong rural livelihoods and the sustainable use of natural capital. In this paper, we considered government proposals for expanding payment for ecosystem services (PES) and sustainable silvopastoral systems, and private-sector investment in habitat banking. We coupled the Integrated Economic-Environmental Model (IEEM) with spatially explicit land use and land cover change and ecosystem services models to assess the potential impacts of these programs through the lens of wealth and sustainable economic development. This innovative workflow integrates dynamic endogenous feedbacks between natural capital, ecosystem services and the economic system, and can be applied to other country contexts. Results show that PES and habitat banking programs are strong investment propositions (Net Present Value of US$4.4 and $4.9 billion, respectively), but only when moving beyond conventional economic analysis to include non-market ecosystem services. Where a portfolio investment approach is taken and PES is implemented with sustainable silvopastoral systems, investment returns would reach US$7.1 billion. This paper provides a detailed evaluation of the benefits of investing in rural livelihoods and enhancing Colombia’s natural capital base, with empirical evidence to inform the spatial targeting of policies to maximize economic, environmental and social outcomes.

The Millennium Development Goals were formalized in the Millennium Declaration, which was endorsed by 189 Heads of State and Government at the United Nations Millennium Summit of 2000. Achieving these Goals through sustainable growth and advances in key areas such as education, health, environmental sustainability and gender equality, is recognized as a challenge for developing and developed countries alike. This report analyzes the progress towards the Millennium Development Goals (MDG) in Latin America and the Caribbean so far and assesses the scope of the challenges that remain. It presents some suggestions to adapt the MDG agenda to the realities and stages of development of the countries of the region, a summary of recent Bank activities to support the MDGs, and some reflections on priorities for the period to 2015 and beyond. The Millennium Development Goals were formalized in the Millennium Declaration, which was endorsed by 189 Heads of State and Government at the United Nations Millennium Summit of 2000. Achieving these Goals through sustainable growth and advances in key areas such as education, health, environmental sustainability and gender equality, is recognized as a challenge for developing and developed countries alike. The commitment of the governments of Latin America and the Caribbean to meeting the Goals was reaffi rmed in the Declaration of the Special Summit of the Americas held in Monterrey, Nuevo León (Mexico) in 2004. This report analyzes the progress towards the Goals in Latin America and the Caribbean so far and assesses the scope of the challenges that remain. Progress in the area of poverty reduction is insuffi cient to meet the goal of halving by 2015 the proportion of people that are poor. Trends in other areas are more promising. To better refl ect the development needs of Latin American and the Caribbean some of the Goals need to be adapted or reinforced. Of particular importance is placing more emphasis on social inclusion and the reduction of inequality. The mandate of the Inter-American Development Bank of promoting economic growth and reducing poverty and inequality is fully compatible with the agenda prompted by the Millennium Development Goals. We have developed a far-reaching institutional response that is outlined in this report and we stand ready to continue to support our borrowing member countries in their efforts to achieve the Goals. Enrique V. Iglesias Ex-President Inter-American Development Bank