This paper provides reflections and considerations as to how MDBs including the IDB can use the Project Preparation Facilities (PPFs) to help countries fill the infrastructure gap by improving the quality of projects, reducing and mitigating risks, and leveraging private financing. Similar Studies have been conducted for PPFs in Asia , Africa and Europe. However, there is no similar assessment for LAC . This paper is the first step towards utilising the resources offered by PPFs for infrastructure development projects in LAC, and applying these useful tools to another critical region.