MCDF and CAF to promote high quality infrastructure and connectivity investments in Latin America and the Caribbean
July 31, 2023
MCDF will provide non-reimbursable resources for activities such as project preparation, institutional strengthening and knowledge transfer in sectors such as energy, ICT, water, transportation and logistics.
CAF, Development Bank of Latin America and the Caribbean, and the Multilateral Cooperation Center for Development Finance (MCDF) have signed an Implementation Agreement that will enable their joint action to address the challenges of sustainability and quality infrastructure.
Through the strategic alliance with this multilateral financial mechanism, CAF will have access to non-reimbursable resources for the preparation of projects and programs in sectors such as energy, transportation and logistics, water and telecommunications, aligned with the principles of quality infrastructure of the G20, the Sustainable Development Goals (SDGs) and the Paris Climate Agreement.
One of the objectives of the cooperation between CAF and MCDF will be the dissemination of high international standards on environmental and social safeguards, procurement, transparency, anti-corruption, debt sustainability and investment in clean energy, among others.
In addition to the financial resources available for project preparation and institutional strengthening, the Collaboration Platform provided by the MCDF will be a valuable space for the exchange of knowledge, best practices, research and experiences for institutions, governments and other actors that participate in the initiatives that benefit from different roles.
CAF will be a key partner for MCDF in the coverage of Latin America and the Caribbean, leveraging CAF's project generation capacity in the region.
"We continue to add allies that represent financial resources, technical assistance in project preparation, capacity building, and knowledge transfer that will translate into better quality, more efficient and resilient initiatives that promote well-being and generate more opportunities for Latin Americans and Caribbeans," said Gloria Gamero, CAF's Director of Institutional Financing.
The signing of this agreement seals an alliance through which CAF reiterates its commitment to generate high impact in sustainable development, being a priority aspect within both agendas the closing of gaps for the fulfillment of the SDGs. In addition, it is aligned with its goal of being the green bank for sustainable and inclusive economic development in the region with strategic allies such as the MCDF.