CAF boosts development in Antioquia with new strategic partnerships

October 05, 2023

CAF—development bank of Latin America and the Caribbean—signed two agreements with the Government of Antioquia and Proantioquia, to advance the internationalization of businesses and financial inclusion, and to encourage best practices in public policy in key areas, including climate change, city planning, human development, and innovation.

The partnership with Proantioquia is set to advance initiatives and projects to streamline the internationalization of Antioquian businesses, foster local entrepreneurship by integrating and leveraging various stakeholders in ecosystems, boost financial inclusion and competitiveness of businesses, and share experiences and best practices that can be replicated to other regions in Latin America.

The agreement with the Government of Antioquia is expected to help push public policies, devise and manage projects in the areas of urban development, social development, infrastructure, environment and climate change, digital transformation, rural development, good corporate governance practices, and project financing mechanisms.

"One of CAF's core values is sustainable and equitable growth, and that means building robust business, innovation and entrepreneurship ecosystems that can create high-quality jobs and compete on a global scale. "These partnerships with key stakeholders from Antioquia is expected to help devise effective public policies that help address the major challenges of the region and the nation," said CAF Executive President Sergio Díaz-Granados.

In this connection, Antioquia Governor Aníbal Gaviria noted that it is a very "powerful, rich, and ambitious" memorandum of understanding that aligns with very important guidelines, and stressed: "For us, this is a key moment in this relationship, and until December 31, we will be working with you and the entire team on each front to try to advance further than today with this agreement. We are ready with other partners such as Proantioquia, the Chamber of Commerce, universities, because I believe that there we are can build increasingly inter-institutional teams with other partners that will provide more permanence, continuity, but also more coordination and comprehensiveness."

"Both institutions have common interests in advancing issues in the regional agenda, collaborating for the development not only of Antioquia but also of other parts of the country that require actions to move forward in social matters. This agreement will help us explore solutions with CAF that improve the quality of life in different population groups in the country. Furthermore, it will help share experiences developed in Proantioquia that can be replicated in other countries in the region where CAF is present," explained María Bibiana Botero, executive president of Proantioquia.