CAF and COFIDE advance the definition of a work plan to boost development in Peru

This aim of the event was to establish support mechanisms, as well as technical and financial cooperation, to strengthen the two entities’ capacity to promote and finance investment in Peru.

“The opportunities we have for joint work toward encouraging the private sector to increase its productivity through efficient initiatives and products, which would in turn promote development, are huge,” CAF representative in Peru Manuel Malaret said in his keynote speech. “That is why a greater coordination among regional and local leaders with authorities such as the Ministry of Economy and Finance is needed, which is what we are promoting in this event.” 

"The Peruvian development model has had an open economy with macroeconomic stability as its cornerstone, which means we must achieve a greater integration between small and medium-sized enterprises in order to help them become exporters,”

COFIDE President Pedro Luis Grados added. “On this issue, there is much to be done and much we have to contribute."

CAF Vice President for the Private Sector Jorge Arbache agreed with COFIDE General Manager Alex Zimmermann in that the new strategies that the two institutions are deploying have common elements that will facilitate synergies to boost development programs and products.

During the work sessions, participants proposed a few effective solutions in terms of the joint provision of funding and training to SMEs and other strategic sectors, including infrastructure, financial inclusion, innovation and environment, among others.

The workshop was attended by several COFIDE senior executives, as well as officials from various CAF directorates, including Productive and Financial Sectors (Northern Region) Director Mauricio Salazar, Productive and Financial Sectors (Northern Region) Chief Executive Alejandro Soriano, Peru Office Senior Executives Claudio Higa and Pedro Ravelo, Peru Office Main Executive Luis Pérez, Technical Analysis and Assessment Office Main Executives Mónica López and Fausto Arroyo, Structured Financing Office Main Executive Dave Zamara, Private Sector Technical Analysis and Assessment Office Main Executive Jairo Tiusabá, Sustainability, Inclusion and Climate Change Office Main Executive Mauricio Velasquez, Social Innovation Office ExecutiveKarla Guerrero and consultant Marisela Vega.

The event closed with the definition of the sectors to intervene, as well as the designation of work teams whose purpose will be to achieve the coordination needed to offer more efficient initiatives to both the private sector and local and regional governments.