
Visions for Development · Edition 02
Visions for Development is a magazine developed by CAF, the development bank of Latin America and the Caribbean, and Editorial EL TIEMPO, in partnership with the Special Content Agency (ACE), which analyzes global development challenges from a Latin American and Caribbean perspective.
A NEW SPACE FOR REFLECTION AND DIALOGUE
"Visions of Development is a response to the need to reposition Latin America and the Caribbean in the world. We invite academics, social leaders, business leaders, and the entire international community to join this initiative, contributing their perspectives and knowledge to build together a more prosperous future for Latin America and the Caribbean."
Sergio Díaz-Granados
Executive President of CAF
INTERVIEW
Former Mexican President Ernesto Zedillo calls for the defense of the multilateral trading system, which he calls a "global public good."
"We are witnessing the demolition of a rules-based trading system."
Read moreDATA
USD 3.5 billion
Financing that would be needed between 2025 and 2029
to meet health, education, roads and water goals
USD 400 million
It is the financing that Latin America and the Caribbean requires
for biodiversity and ecosystems
18.400
are local governments
in 33 countries in the region
80%
of the inhabitants of Latin America and the Caribbean
resides in municipal capitals
POINT OF VIEW
CAF's commitment to a more just and sustainable region
By: Gianpiero Leoncini, Executive Vice President of CAF
In a global context marked by geopolitical tensions, inequalities, and multiple crises, Latin America and the Caribbean (LAC) finds itself at a crossroads: how to move toward development that combines economic growth with environmental protection and social inclusion. With the support of its 55-year history, CAF has taken on the challenge of catalyzing this change, aligning its strategy with the UN Sustainable Development Goals (SDGs) and the priorities of its 23 member countries.
CAF's corporate strategy
Through CAF's 2022-2026 Corporate Strategy, our actions are structured in three dimensions. First, we concentrate our efforts on six areas of impact: fair energy transition, climate change adaptation, resilient territorial development, inclusive social well-being, physical and digital connectivity, and increased productivity through partnerships with the private sector. Second, we integrate fundamental principles into our operations: environmental sustainability, evidence-based decisions, institutional strengthening of our partners, a gender and inclusion approach, and attracting international resources. And third, we strengthen our institutional capacities, focusing on financial sustainability, talent development, digital transformation, geographic expansion, transparency, and the creation of innovative financial instruments.
The principles of our interventions
Our interventions follow principles that multiply their impact. Fifty percent of sovereign projects include gender components, such as loans tailored to female entrepreneurs in Ecuador. We incorporate ancestral knowledge and facilitate South-South cooperation to replicate successful experiences, such as the Uruguayan wind energy model. Our strength enables innovations such as sustainable bonds linked to reforestation goals in the Amazon, always with anti-corruption systems that meet international standards. Partnerships with universities are developing local talent in critical technologies.
The challenges
The challenges remain enormous. The region needs $150 billion annually to meet its climate commitments. A third of countries still face limitations in implementing complex projects. Integration between nations remains insufficient. That's why CAF is redoubling its efforts to increase climate financing by 2030, strengthen local governments with technology transfer, and deepen partnerships with multilateral organizations and the private sector.
CAF Impact
Finally, CAF's impact is cemented by its internal agendas, which reinforce its ability to transform vision into action. In 2024, it consolidated the best risk rating in its history, which has been accompanied by the strengthening of human talent and a digital transformation strategy. In a world that demands innovative, sustainable, and fair solutions, CAF reaffirms itself as the strategic partner the region needs to move forward.
POINT OF VIEW
Access to information and sustainable development in LAC
By: Alejandra Claros, Secretary General of CAF
Multilateral development banks (MDBs) play an increasingly important role in achieving the Sustainable Development Goals (SDGs) and in climate finance. We are strategic players in mobilizing resources and generating impact in emerging economies. However, institutional diversity and the lack of comparable information limit the understanding of our true contribution, as well as the active participation of citizens.
How can we talk about sustainable development if those who should benefit from it don't know how the resources are used?
Transparency is not an abstract value: it is an indispensable condition for making better decisions, allocating resources wisely, and avoiding duplication. It allows us to evaluate what works, improve what doesn't, and amplify the impact where it is most needed. Furthermore, it strengthens accountability and builds institutional trust. When information is unavailable or inaccessible, the capacity to govern effectively is weakened and citizen participation and collaboration are limited. In our region, where inequality persists as a structural challenge, transparency is also a tool for redistributing power and including those who have historically been excluded in decision-making.
Transparency in infrastructure projects
In infrastructure projects—such as roads or dams in rural areas—open information is essential. Clearly publishing social and environmental impacts, along with enabling spaces for public consultation, fosters genuine dialogue between communities, authorities, and businesses. This early participation allows for resolving tensions, building consensus, and ensuring that development leaves no one behind.
Transparency in social investments
Publishing data on social investments and their results allows rural communities to identify gaps, demand improvements, and participate with greater tools in the decisions that affect them. When data is clear, what was hidden becomes visible. And what is seen can be transformed. Thus, transparency contributes to closing historical gaps and moving toward more equitable territorial integration.
What does advancing transparency entail?
Advancing transparency involves more than increasing the amount of information published: it requires that it be useful, timely, and understandable. It is necessary to strengthen publication standards, promote accountability, and ensure that individuals and communities have access to data relevant to their reality. Only in this way will it be possible to democratize decision-making and strengthen the link between institutions and citizens. Transparency and access to information are not merely technical requirements. They are the foundation of modern, open governance oriented toward the common good. In Latin America and the Caribbean, we need information that flows, is reliable, and is available in a timely manner and in accessible formats.
CAF's vision on transparency
As Gabriel García Márquez said: “The best news is not always the one delivered first, but often the one delivered best.” And in development, “delivering it better” means doing so with evidence, openness, and listening. At CAF, we embrace this commitment: that access to information is not a privilege, but a bridge. A bridge that connects institutions with citizens, financing with results, and data with decisions that transform lives.
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VOICES OF THIS EDITION

Sergio Díaz-Granados
Executive President, CAF -Development Bank of Latin America and the Caribbean-
Sergio Díaz-Granados has extensive experience in public and private service, both nationally and internationally, with special emphasis on regional development and integration issues. Before assuming…

Gianpiero Leoncini
Executive Vice-President, CAF – Development Bank of Latin America and the Caribbean

Alejandra Claros
Secretary General, CAF- development bank of Latin America
Alejandra Claros Borda, has a degree in Law and Political Sciences. From a very young age, she has had different responsibilities in high political spheres…

Alicia Montalvo
Manager for Climate Action and Positive Biodiversity, CAF-Development Bank of Latin America and the Caribbean-
É, desde setembro de 2020, Conselheira Chefe do Escritório Econômico e Comercial da Embaixada da Espanha na Colômbia, representando também a ICEX Espanha Exportação e…

Gustavo Fajardo
Principal Economist, Socioeconomic Research Department at CAF
