Launching of the Economy and Development Report (RED): 'Nearby Solutions: The role of local and regional governments in Latin America and the Caribbean'.

In recent decades, many Latin American and Caribbean countries have undergone decentralization processes that have strengthened the autonomy and role of their local and regional governments. Today, more than 18,000 subnational governments assume key responsibilities in areas such as education, health, public safety, road infrastructure and basic services.

Despite their importance, we still know little about how they function, what resources they have and what practices they implement. CAF's new Economy and Development Report (RED) seeks to fill this gap, documenting their reality and proposing an agenda to strengthen their capacities.

Why is it key to support these governments? Because they help to close territorial gaps, improve urban services and face the great challenges of our technological, green and energy transitions.

The launch of the RED "Soluciones Cercanas: The role of local and regional governments in Latin America and the Caribbean" will include the presentation of the report and a panel discussion with local and national authorities to exchange ideas and define next steps.

CAF reaffirms its commitment to local and regional governments, not only with financing, but also with knowledge, networks and initiatives that promote their development.