![Germany strengthens relations with Latin America Germany strengthens relations with Latin America](/media/29266/georgclemens-enriquegarcia.jpg)
Germany strengthens relations with Latin America
Garcia said "signing this agreement for a total of 30 million euros is one more example of the confidence that developed countries such as Germany have in CAF, based on its high reputation and efficiency in supporting the development of the countries of our region." He added "the resources that will come from this signing will be used for the Renewable Energy and Energy Efficiency Program (RE/EE) which will be administered by CAF, in coordination with the German Development Bank Kreditanstalt für Wiederaufbau (KfW)."
The Official Development Aid (AOD) consists of donations or loans on privileged financial conditions, under the guidelines of the Organization for Economic Cooperation and Development (OECD).Lastly, Garcia explained that the projects to be financed under the RE/EE will, by their nature, support areas of renewable energy and energy efficiency in eolic, solar, geothermal, biomass, and small-scale hydroelectricity technologies, among others. The financing will go to projects located in CAF member countries in Latin America and the Caribbean.
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The amount represents the largest international facility ever undertaken by Sicredi, with the involvement of four internationally renowned entities: Banco Finantia, BNP Paribas, Eco.business Fund, and Sumitomo Mitsui Banking Corporation (SMBC). The funds raised can also be used in regions with a Human Development Index below the national average.![CAF-FAO: Digitization project for agribusiness with repository launch CAF-FAO: Digitization project for agribusiness with repository launch](/media/4669830/caf-fao.png)
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The Food and Agriculture Organization of the United Nations (FAO), CAF -development bank of Latin America and the Caribbean-, the Ministry of Agriculture, Land and Fisheries and the Tobago House of Assembly celebrated the successful completion of the “Digitization and Innovation for the Competitiveness and Sustainability of the Agribusiness Sector in Trinidad and Tobago” project. The closing ceremony, that took place on the 29th of July, marked a significant milestone in the country's efforts to modernize and enhance the agricultural sector.![CAF recognizes Panama's water potential in the face of climate change CAF recognizes Panama's water potential in the face of climate change](/media/4669780/2_cuencas_hidro_caf_.jpg)