Today, to bolster semiconductor production capabilities across the Western Hemisphere, the U.S. Department of State, in collaboration with the Inter-American Development Bank (IDB), has unveiled the CHIPS ITSI Western Hemisphere Semiconductor Initiative. This groundbreaking initiative, supported through the CHIPS Act International Technology Security and Innovation (ITSI) Fund, enhances semiconductor assembly, testing, and packaging (ATP) capabilities in key partner countries, beginning with Mexico, Panama, and Costa Rica.
Under the Initiative, the IDB will support public-private partnerships and implementation of OECD recommendations tailored to enhance the semiconductor ecosystems in targeted countries. This collaborative effort underscores a commitment to international policy alignment and sustainable economic development. This Initiative will also build on the IDB's ongoing work through the Americas Partnership for Economic Prosperity to strengthen the competitiveness of regional semiconductor supply chains.
The CHIPS ITSI Western Hemisphere Semiconductor Initiative will commence in 2024 and continue through 2026. This initiative will strengthen regional capabilities and set a precedent for inclusive economic growth and global technological advancement. To that end, the ITSI Fund has also supported a semiconductor-focused multilateral platform that advances Americas Partnership for Economic Prosperity objectives.
