CAF and KfW agree on Strategic Partnership to promote Gender Equality, Inclusion and Diversity in Latin America and the Caribbean
September 06, 2023
For more than 40 years, CAF, Development Bank of Latin America and the Caribbean– and KfW Development Bank have been jointly supporting the countries of Latin America and the Caribbean. On behalf of the German Government, KfW provides concessional loans and grant funds to finance CAF’s infrastructure programmes to combat climate change and to support the recovery from the COVID 19 pandemic. With the new strategic initiative, both institutions pledge to implement joint activities that help foster a more just and inclusive society.
Latin America and the Caribbean present significant challenges in terms of social inequalities: Women and population groups such as people of African descent, indigenous people or persons with disabilities regularly make up a high share of the disadvantaged population.
Recognizing these challenges, CAF and KfW have set ambitious objectives to implement further activities and channel more funding to improve access and ensure equal opportunities for all regardless of gender, sexual orientation, disability, race or other factors. Both institutions have agreed to work jointly to devise new and innovative ways of cooperation and support. At the same time, they recognize the need to incorporate gender, inclusion and diversity aspects in their ongoing support.
A Joint Declaration of Intent to this end was signed by Sergio Díaz-Granados, Executive President of CAF, and Christian Krämer, Member of the Management Board of KfW Development Bank during the Finance in Common Summit in Cartagena. Christian Krämer remarked:
We are guided by the vision of KfW’s Declaration on Human Rights and the official German Feminist Development Policy: Equal participation by all people in social, political and economic life – regardless of gender identity, sexual orientation, age, disabilities, migration status, ethnic origin, religion or worldview, or other characteristics. It is therefore our goal to contribute to the closing of gaps between people regarding the access to rights, resources and representation. We are glad to join forces with CAF and are looking forward to this new chapter in our cooperation.
Sergio Díaz-Granados, Executive President of CAF, added: “The world is at a crossroads, and we must choose between following the same path we have been on in recent years or taking forceful action regarding fundamental challenges facing us, such as climate change, poverty reduction gender, inclusion and diversity. Together with KfW, as we are endorsing with this agreement, we are certain that we have before us an immense opportunity to continue showing that Latin America and the Caribbean is a region capable of proposing and generating solutions to great global challenges.”
CAF and KfW have structured already more than USD 1.7 billion in credit facilities in the last 10 years, which have allowed to work and promote green financing, collaborating with economic growth compatible with ecological and social criteria, always seeking to be aligned with the Sustainable Development Goals.