CAF enhances benefits of LAIF–Latin America Investment Facility
In order to enhance the benefits of LAIF (Latin America Investment Facility) and foster new opportunities for collaboration, delegations from CAF and the Directorate-General for International Cooperation and Development of the European Commission, held a workshop on February 27, 2019 in the city of Lima, Peru.
The meeting was organized by the Directorate of Institutional Financial Resources of the Vice Presidency of Finance of CAF, and was officially opened by Gabriel Felpeto, Vice President of Finance. The workshop was also attended in-person and online by CAF offices in Peru, Colombia, Panama, and Uruguay, and with cross-cutting collaboration of the Vice President of Sustainable Development, Infrastructure, Finance, Country Program, Private Sector and the General Secretariat.
The workshop featured Gisela Campillo, LAIF Program Manager, the Directorate-General for International Cooperation and Development, and Marco Cuevas, technical consultant for Technical Assistance at LAIF.
The facility allows for the mobilization of European resources to Latin America to promote investments in key infrastructure for pre-investment, investment studies, among other purposes. European financial institutions for development also play a pivotal role in this cooperation, as channels between CAF and LAIF, including notably AECID, AfD, EIB, Cassa Depositi e Prestiti, COFIDES, KfW, among others.
LAIF’s relevance for CAF lies in the support to many countries in the region, including Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, Mexico, Panama, Peru and Uruguay.
The collaboration between these institutions dates back to 2011, and to date, LAIF funds raised by CAF totals EUR 27 million, managed through 6 different lines of credit provided by AfD and KfW, benefiting 10 countries and fostering sustainable development of the region.
This open forum promoted an exchange of ideas between different areas of CAF about the European agenda for the region, as well as CAF’s concerns and successful experiences in the use of the facility, resulting in deeper understanding between both institutions.
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