CAF to Support Human Capital, Small Business Development and Rural Electricity Projects in Bolivia

(La Paz, August 9,2013).-With the objective of spearheading initiatives that develop human capital, strengthen the business sector and improve the quality of life for those living in rural areas in Bolivia, CAF-Development Bank of Latin America- Executive President Enrique García signed five non-reimbursable technical cooperation agreements with representatives from various beneficiary institutions.

"To CAF, supporting skill training and the development of human capital is an elemental factor for countries aiming to achieve quality growth. Areas such as education and sports play an integral role in this endeavor, and therefore, we will provide support with resources bound to two educational institutions who are actively working to generate knowledge and promote research," said Garcia.

"In terms of sports, the institution has already built a large support program that promotes sporting events to bring about good health, integration and inclusive participation, and through support initiatives that - through the practice of sport - seek to assist children and young adults at social risk," said Garcia.

CAF's support will also address the need to conserve environmental resources, García added, referring to a photovoltaic electricity project that will provide energy in a La Paz community. "We have increased our portfolio of projects that will help consolidate the small and medium-sized business sector, one of the growth engines of the region's economies," said García.

Ecology, Academia and Sports

The first agreement teamed between CAF and the Bolivian Catholic University (UCB) will develop game plans to provide training, schooling and applied research needed to bring about sustainable development and Latin American integration by spurring the generation and sharing of knowledge among academics and public policymakers.

Furthermore, Radio Fides' international cycling event "Vuelta Bolivia 2013" will receive CAF's support for a second consecutive year. For CAF, this race, branded as one of Bolivia's most important professional sporting events, boosts the country's tourism sector and gives locals and tourists alike the chance to appreciate the country's diversity from east to west, serving as an example of regional integration by bringing together teams from several neighboring countries to compete in the race.

Meanwhile, the Foundation for Ecological Development (FUNDECO) will receive CAF resources to conduct studies to determine the feasibility of installing a photovoltaic electricity generator in Bolivia, which will use the sun as an energy source for the country's Altiplano communities. The project's strength lies in an alliance between participating private companies and the communities themselves, all of whom will contribute to CAF efforts to mitigate the effects of climate change via the implementation of projects that provide clean and alternative energies that contribute to energy efficiency in Latin America.

Separately, CAF  will help the Foundation for Sustainable Development (FUNDES) run its program "Access to the Stock Market by Strengthening Corporate Governance," a program that will benefit 28 small and medium-sized, family-owned businesses by working to open the door to equity financing.

Finally, the Bolivian Academy of Economic Sciences will receive resources to help it kick off the Fifth Conference for Bolivian Economic Development, which will take place in the city of Santa Cruz to stimulate discussion and an exchange of ideas on recent advances in theoretical and applied academic research on economic development.