CAF, UK Government hold series of meetings in London aimed at boosting investment in Latin America

(London, Feb. 13, 2013). During a visit to London on Feb. 11-12, Enrique García, the president of CAF –development bank of Latin America–held meetings at the Foreign Office, the British Parliament and the London School of Economics to promote British and European investment and trade opportunities in Latin America, as well as cooperation projects aimed at boosting sustainable and inclusive development in the region.

“We have laid out before diverse audiences the plans and projects pursued by CAF in favor of sustainable and high quality growth for Latin America,” Mr. García said. “On this occasion, we mainly stressed the Institution’s role in the regiondevelopment in key sectors including infrastructure, social inclusion, education, productive development, innovation and institution-building.”

CAF-UK Seminar on Infrastructure

British officials and businessmen attended a seminar entitled Latin American Infrastructure: Working with CAF - Development Bank of Latin America, organized jointly by the UK Foreign Office and Canning House. On that occasion, Foreign Office’s Americas Department’s Director Kate Smith emphasized that Latin America was a UK foreign policy priority.

In turn, Mr. García gave a speech about the economic situation in the region and CAF’s role as a catalyst to attract resources from other regions to spur Latin American development. “In the context of the international financial crisis, Latin America can be part of the solution,” he said, remarking on opportunities represented by infrastructure investments in the region.

Indeed, CAF is today one of the main multilateral financing sources for Latin America, with more than US$50 billion in approved loans for sustainable development and regional integration in the last five years.

Mr. García also met with Trade and Investment Minister Lord Stephen Green to discuss future cooperation areas between the UK and CAF. The Latin American multilateral bank’s delegation also visited the Stratford Olympic Park, which demonstrates the UK’s capacity to develop big, environmentally efficient and high quality infrastructure projects.

Parliament guest of honor

Mr. García was the guest of honor at a special session organized by the Henry Jackson Society in the Parliament to discuss economic development perspectives for Latin America and its relations with the UK.

Pauline Latham, MP, presided over the event, attended by members of the House of Lords, MPs, diplomats and academics, an opportunity that demonstrated Latin America’s favorable standing, as well as CAF’s role in the region and the UK’s growing interest in strengthening its links with that part of the world.

LSE-CAF strategic partnership

During his London sojourn, CAF’s president signed a cooperation agreement with London School of Economics (LSE) director Craig Calhoun to promote academic and research activities that have a positive impact on national and international public policies, with the goal of promoting sustainable and inclusive development.

Mr. García said the agreement “represents a significant step for CAF’s external relations in view of LSE’s prestige and excellence in the academic world.” He added, “This partnership will contribute to CAF’s bigger presence and visibility in the UK and Europe, as well as strengthen our role as relevant knowledge generator for Latin America, while also allowing us to boost our strategic partnerships’ network with universities and global intellectual centers.”

The CAF-LSE cooperation agreement is focused on South-South cooperation, seeking to examine emerging nations’ –especially Latin American ones– evolving role on the international stage.

The agreement contemplates joint research, events –including an annual conference in London and a regional seminar in Latin America– as well as CAF-funded scholarships for Latin American students and professors at the LSE.

During his visit to the LSE, Mr. García gave a public lecture entitled The Challenges of Latin America and the New Global South.