CAF and UNICEF partner to promote development opportunities for children and young people across Latin America and the Caribbean

At UNICEF headquarters during the 80^th Session of the United Nations General Assembly, CAF – the development bank of Latin America and the Caribbean – announced the launch of LAC Future Bank, a new initiative that aims to mobilize US$5 billion over five years to reach 50 million children, adolescents, and young people in the region.

This historic initiative positions CAF as the first multilateral development bank aiming to implement UNICEF's Child-Lens Investing Framework (CLIF). The partnership will establish a transformative investment paradigm, ensuring that development projects within this initiative prioritize child well-being from inception to implementation.

The Latin American and Caribbean region is home to approximately 255 million children and young people – almost 45 percent of whom are at risk due to poverty, while many face inequality and violence. This represents around 115 million children, adolescents, and young people who require immediate attention to safeguard their future.

"This initiative marks a significant commitment from the Global South to future generations. As a regional development bank, we recognize that investing in children and youth is not only a moral obligation but also the most cost-effective investment we can make for the sustainable development of our region," said Sergio Díaz-Granados, Executive President of CAF. "Evidence indicates that every dollar invested in early childhood development can yield returns between US$4 and US$16 in economic and social benefits. With this initiative, CAF reinforces its position as the leading regional investor in future generations."

"In Latin America and the Caribbean, around 60 percent of child-focused Sustainable Development Goals are off track. These efforts will strengthen access to essentials that children rely on for their health and development, including early childhood development, education and protection against violence and harm, while breaking the vicious cycle of poverty," said Catherine Russell, UNICEF Executive Director. "UNICEF is committed to supporting this initiative, which places children at the centre of the investment decisions that shape their future and the future of generations to come."

The initiative aims to transform the approach to investments in children and youth across the region by creating new national and regional alliances that mobilize cross-sector partnerships involving governments, businesses, and philanthropists. The goal is to promote sustainable joint investments that benefit children and youth.

In addition to Child-Lens Investing, the initiative will focus on developing innovative financing solutions that deliver tangible results for children.

The launch event featured Hon. Mia Mottley, the Prime Minister of Barbados, and a high-level panel "Network of Allies for Children and Youth” that discussed investment opportunities and strategic partnerships aimed at maximizing impact on future generations. Panelists included Cristina Lustemberg, Minister of Health of Uruguay; Pasi Hellman, Under-Secretary of State for Development Policy, Ministry for Foreign Affairs of Finland; Fahad Hamad Hassan Al-Sulati, the CEO of the Qatar Fund for Development; and Jorge García Lema, Manager of the US Representative Office of La Caixa Foundation.

Additionally, the voice of young Latin Americans was represented by Jose Adolfo Quisocala, the winner of the second Enrique García Leadership Award. He shared insights on the aspirations, needs, and potential of new generations, providing a direct perspective from the beneficiaries of this transformative initiative.

This initiative arises in the context of global funding cuts for aid and increasing challenges to universal child rights', placing an institution from the Global South at the forefront of child-focused investment. The commitment from CAF and UNICEF highlights the potential to develop innovative and sustainable solutions tailored for the region, establishing a model that other multilateral institutions around the world could emulate.

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About CAF

We are a development bank committed to supporting the countries of Latin America and the Caribbean and improving the quality of life in the region. Our actions promote sustainable development and regional integration. We serve the public and private sectors, providing multiple products and services to a broad client base of 24 member countries, private companies, and financial institutions.

About UNICEF

UNICEF, the United Nations agency for children, works to protect the rights of every child, everywhere, especially the most disadvantaged children and in the toughest places to reach. Across more than 190 countries and territories, we do whatever it takes to help children survive, thrive, and fulfil their potential.