CAF-AM paves the way for new investment opportunities in Costa Rica

CAF - Development Bank of Latin America and the Caribbean - and its subsidiary CAF Asset Management (CAF-AM) held a working lunch in San José with Costa Rican government authorities, representatives of pension funds and key players in the financial system, with the aim of promoting new investment opportunities in infrastructure and public services that contribute to economic growth and the welfare of the population.

The meeting was attended by Sergio Díaz-Granados, CAF's Executive President; Rudolf Lücke Bolaños, Costa Rica's Minister of Finance; Alberto Ñecco, CEO of CAF-AM; Carolina Rueda, CAF's representative in Costa Rica; and members of CAF-AM's Board of Directors, together with representatives of the main Costa Rican pension funds.

During the meeting, CAF-AM's progress with the Senior Venture Capital Investment Fund for Infrastructure in Costa Rica BAC - CAF-AM I, authorized by the Superintendencia General de Valores (SUGEVAL) in February 2024,was discussed. This vehicle seeks to mobilize approximately US$288 million in local currency for strategic projects in sectors such as transportation, energy, telecommunications, water and sanitation, education, and health.

"Today we have made progress in conversations with Costa Rica's pension funds to create infrastructure financing vehicles. Together with the Minister and Vice Minister of Finance and Costa Rica's economic team, we had a pleasant meeting to explore different forms of financing for public-private projects. We see great potential in infrastructure for water, electricity and road safety, and we believe that the country has the conditions for strong economic growth," said Sergio Diaz-Granados, CAF's executive president.

Alberto Ñecco, CEO of CAF-AM, highlighted the role of institutional investors in this process. "The infrastructure gap in Latin America is huge and requires innovative solutions that connect local savings with impactful projects. In Costa Rica we are offering a reliable and specialized platform that allows potential investors to participate in the development of sustainable infrastructure, while strengthening the country's capital market."

With successful experiences in Uruguay and Colombia for more than US$2.2 billion, CAF-AM now drives in Costa Rica a decisive stage to channel local savings towards strategic projects that strengthen competitiveness, close infrastructure gaps and improve the quality of life of the population.