CAF intensifies its ties with the Caribbean
September 19, 2022
CAF Development Bank of Latin America participated in a working breakfast between foreign ministers from the Community of Latin American and Caribbean States and the Association of Caribbean States, and signed a Memorandum of Understanding with the latter to strengthen cooperation and joint work in the green and blue economy, transportation, logistics and climate change, among other areas.
CAF, the Community of Latin American States (CELAC) and the Association of Caribbean States (ACS) held a working breakfast this morning to promote dialogue, cooperation and integration between countries in the region. At the meeting, President Sergio Diaz-Granados highlighted the recent creation of the Regional Management for Caribbean countries as part of the bank’s strategy to strengthen the relationship with that region. He also highlighted the role of CELAC and the ACS, since they represent spaces for consultation and integration with which CAF seeks to be a natural and strategic ally to contribute to the economic, social and sustainable development of Latin American and the Caribbean.
After the meeting, CAF and AEC signed a Memorandum of Understanding (MOU) to strengthen coordination and cooperation in the fields of integration and sustainable development. The document provides a framework for joint work between the two organizations on agendas related to the green and blue economy, the generation of transportation, logistics and infrastructure projects, climate change and institutional strengthening, among other areas.
“Integration is a fundamental element in promoting economic and social development in Latin America and the Caribbean. This agreement is part of our policy of strategic alliances that allow us expand our presence in the Greater Caribbean, as well as promote dialogue, and the exchange of experiences and best practices among countries in the region, so as to promote sustainable development,” stated Sergio Díaz-Granados during the signing ceremony.
Among the activities considered, the organization of training and knowledge transfer events between the parties, development of promotional actions and joint financing of green projects were particularly notable. The duration of the agreement is set at five years from the moment it comes into effect.
Both events took place during the Many Voices, One Region conference, organized by CAF to create a space for debate and reflection with global leaders, heads of state and senior international figures to contribute global solutions to the challenges facing our region on key issues such as climate action, biodiversity, energy transition, cities, gender, inclusion and diversity, among other topics.
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