Alliance for the Sustainable Development of Latin America

(Special, December 26, 2011).- CAF -Development Bank of Latin America- and Fundación Avina have subscribed an Agreement of Understanding, through which they propose the establishment of alliances to foster development in Latin America.

The execution of this Agreement marks the beginning of the synergy that both institutions will create in order to adopt the necessary measures to promote sustainable development in areas such as sustainable cities, inclusive businesses, social development, water and sanitation, the environment and climate change, competitiveness and development of the private sector, public policies, citizen participation, governmental transparency, social responsibility, and local economic development, among other sectors of common interest.

“It is part of CAF’s strategy to join efforts with institutions like Fundación Avina, which contributes to sustainable development in Latin America by fostering alliances among social and business leaders” said Enrique García, CAF’s executive president.

Through this Agreement, both Institutions will make efforts to facilitate the implementation of programs and projects of common interest that would benefit the most unfavorable communities of the shareholder countries of the multilateral financial institution.

Fundación Avina is a Latin American foundation that contributes to sustainable development in the region through alliances with social and business leaders. Fundación Avina is present in thirteen countries throughout Latin America thanks to a chain of national and local offices as well as virtual work stations, which provide the Institution with on-the-ground networking capabilities. Fundación Avina also works globally, linking its Latin American allies with institutions around the world in order to strengthen and scale up their activities.