Sergio Díaz-Granados Elected New CAF Executive President

The Board of CAF—development bank of Latin America—, composed of ministers of Economy and Finance, presidents of central banks and high-level economic authorities of the shareholder countries, elected on July 5 Sergio Díaz-Granados by majority as the new executive president of the institution, in a hybrid meeting held at Palacio Nacional de México.

A prominent Colombian lawyer currently serving as Executive Director for Colombia at the IDB Group, Díaz-Granados will take office on September 1, 2021, for a 5-year term. He has an extensive career in public and private service, both nationally and internationally, with a special emphasis on development and regional integration. In Colombia, he has held the positions of minister of Commerce, Industry and Tourism, Vice Minister of Business Development and President of the Boards of Directors of Bancóldex and ProColombia. He has also served as congressman and chairman of the Economic Affairs Committee of the House of Representatives.

Díaz-Granados is also dean and chairman of the Coordinating Committee of the IDB’s Board of Executive Directors. He was part of the merger process of the Inter-American Investment Corporation (IIC/IDB Invest) in 2015. He also supported the approval of the second replenishment of the Multilateral Investment Fund (IDB LAB). As Executive Director, he chaired the IDB’s Policy and Evaluation Committee from 2016 to 2017, and the IIC/IDB Invest Board Committee from 2018 to 2019.

The president-elect is a lawyer and specialist in Government and Finance from Colombia’s Externado University, with postgraduate studies in Public Management for Social Development from INAP (Spain). He studied constitutional law at the University of Salamanca (Spain).

CAF is a leading institution in Latin America and one of the main sources of multilateral funding for the region, with annual approvals in excess of USD 14 billion for inclusive development and regional integration. Since it started operations in 1970, the institution has approved more than USD 200 billion aimed at improving the quality of life of Latin Americans. CAF has also established itself as an important think tank with a global vision and a bridge between Latin America and the rest of the world.