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June 30, 2025
CAF -development bank of Latin America and the Caribbean- and the Arab Coordination Group will create a working group between Latin American and Caribbean countries and institutions and ten Arab funds to design financial instruments and identify financing projects in 2025 and 2026.
June 30, 2025
Latin American and Caribbean countries, the Arab Coordination Group (ACG) and the OPEC Fund for International Development created an investment committee to promote projects in critical areas in Latin America and the Caribbean, such as infrastructure, energy transition, food security and digitalization.
The committee, which will be chaired by CAF, will analyze instruments such as green bonds and mixed public-private funds; facilitate the exchange of technology and knowledge; and prioritize climate-resilient projects with social impact. This group is the result of a working group organized by CAF in the framework of the Seville FfD4.
During the roundtable, Santiago Peña, president of Paraguay, said that his country and the entire region are committed to advancing strategic cooperation between the two blocs in the midst of an unstable geopolitical situation.
Abdulhamid Alkhalifa, president of the OPEC Fund for International Development, said that "CAF has a strategic role as a bridge between Latin America and the Caribbean and the Arab funds, as a key ally of the OPEC Fund and the ACG".
Alkhalifa also said that by working together, both blocs can ensure South-South cooperation that boosts economic and financial resilience, and that, in this spirit of connection and collaboration, we are shaping the future. Latin America and the Caribbean holds immense promise.
For his part, Sergio Diaz-Granados, executive president of CAF, said. "by fostering the exchange of technology and talent, both regions can accelerate their transition to more diversified and resilient economies."
In addition, the CAF president said that the symbiotic nature of this relationship underscores its importance and strategic value for both regions, and that to maximize potential, we must overcome key challenges such as logistical inefficiency and lack of adequate infrastructure. "Investments in ports, storage hubs and transportation systems by the Gulf countries' Sovereign Wealth Funds are essential to ensure agile and resilient supply chains," he concluded.
The Arab Coordination Group (ACG) consists of ten development institutions: the Abu Dhabi Fund for Development, the Arab Bank for Economic Development in Africa, the Arab Fund for Economic and Social Development, the Arab Gulf Development Program, the Arab Monetary Fund, the Islamic Development Bank, the Kuwait Fund for Arab Economic Development, the OPEC Fund for International Development, the Qatar Fund for Development and the Saudi Fund for Development.
A recent CAF report highlights that Saudi Arabia, UAE, Qatar and Kuwait can generate significant benefits for both regions, based on three pillars. The first is economic relations in traditional sectors such as agriculture and energy. Latin America, as the main exporter of food, offers key solutions for food security: in 2022, Arab imports of Latin American agricultural products reached US$9.5 billion, led by Argentina and Brazil, which account for 80% of this trade with exports of meat, soybeans and cereals.
The Gulf countries are also key for Latin American agriculture, exporting US$ 1.1 billion in fertilizers, which are essential for productivity. In addition, Saudi Arabia's Public Investment Fund (PIF) plans to invest US$15 billion in Brazil's clean energy sector, while a PIF subsidiary formed a joint venture with Brazilian processor BRF to produce poultry in Saudi Arabia, reflecting diversified economic cooperation.
June 30, 2025
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