CAF allocated more than USD 1.3 billion since 2022 to preserve Latin American and Caribbean oceans

In 2021, CAF made a commitment to become the region's green and blue bank. As part of this initiative, in 2022, during the United Nations Conference on Oceans in Lisbon, CAF adhered to the UNEP FI Sustainable Blue Economy Financing Principles, establishing the goal of mobilizing USD 1.25 billion between 2022 and 2026.

These resources have been allocated to a total of 17 credit operations and 18 technical cooperation projects with sustainable blue economy components and protection of marine and coastal areas, benefiting 16 countries in Latin America and the Caribbean. The projects carried out include the protection of marine areas, sustainable fishing, coral restoration, sargassum management, flood prevention and waste remediation, among others.

This has included coastal adaptation initiatives (Trinidad and Tobago), energy transition in the shrimp sector (Ecuador), marine sanitation (Ecuador, Brazil, El Salvador), and ocean policies (Colombia) through loans. The technical cooperation ranges from coral restoration and sargassum management to the management of marine protected areas and the reduction of illegal fishing. In addition, CAF managed USD 90 million in Green Funds to promote the blue economy and control invasive species, and secured an additional USD 25.7 million for mangrove restoration and sargassum management.

“This milestone in blue financing evidences our commitment to the preservation of marine and coastal ecosystems, vital to the future of our region. We have invested in projects that not only seek environmental sustainability, but also drive economic growth and the well-being of our communities,” said Sergio Diaz-Granados, CAF's executive president.

Main areas of action:

• Marine Protected Areas (MPAs): Management of 1.5 million km2 in MPAs was strengthened. This seeks to increase fish stocks, improve resilience to climate change, and promote fishing employment and scientific research.
• Sustainable fisheries: With USD 17 million in 3 operations, CAF supported the diagnosis and management of illegal fishing. It also strengthened capacities, monitoring of artisanal fisheries and value chains.
• Eradication of invasive species and translocation of species: USD 26 million in 3 operations for biosecurity measures and eradication of invasive species. The objective is the recovery of endangered species and the restoration of ecosystems.
• Coral restoration: USD 125 thousand in 1 operation supported the adaptation of laboratories and capacity building. Nurseries were installed to improve the survival and adaptation of corals to climate change.
• Sargassum management: A USD 150 thousand operation promoted regional coordination and the creation of a scientific network. It also supported comprehensive programs to improve response to sargassum inundation.
• Sanitation and waste management: USD 275 million in 18 operations for wastewater treatment plants and network improvements. The aim is to reduce the discharge of waste into the sea, positively impacting ocean and human health.
• Flood prevention: A USD 50 million operation focused on storm drainage and macrodrainage. The goal is to benefit 140,000 people and significantly reduce flood damage.
• Sustainability of economic activity: US$435 million was approved in 6 operations for electrical upgrades for aquaculture in Ecuador and logistics in Galapagos. Also for road improvements in Brazil, Ecuador and Barbados, seeking economic sustainability.

   

The oceans and coasts provide important benefits to the region and the world. For this reason, CAF works to mobilize resources that allow us to continue enjoying these benefits in a sustainable manner.