CAF's Executive President proposes lines of action with the Pacific Alliance

Enrique Garcia, Executive President of CAF -Development Bank of Latin America, announced the main lines of action proposed by CAF to develop together with the Pacific Alliance. He stated, "During the Paracas Summit, we will propose the establishment of an Infrastructure Fund, the development of a strategy regarding the subject of innovation, and support for the Entrepreneurship Observatory that the Alliance is currently implementing". 

At the same time, during the closing ceremony of the regional conference "Infraestructura en el Desarrollo de América Latina" (Infrastructure in the Development of Latin America) in Mexico City, the Secretary of Finance and Public Credit of Mexico, Luis Videgaray Caso, announced: "One of the subjects in which we are working with the Ministers of Finance of the Pacific Alliance member countries, is joint strategies to finance infrastructure in our countries. The time has come to think about the development of infrastructure not only as a subject that concerns countries but rather as a subject that concerns regions, where the instruments and institutions of a regional character, such as CAF, play a very important role". He added, "we remain with the task and the commitment to continue working together with an institution which is a pillar of regional integration, such as CAF, for the development of infrastructure and of our countries".

During the meetings held with the Secretary of Finance and Public Credit of Mexico, Luis Videgaray Caso and the Secretary of Foreign Relations of Mexico, Jose Antonio Meade, CAF's Executive President, Enrique Garcia, reiterated the Institution's commitment to support this integration scheme during the X Summit of the Pacific Alliance which will be held in Paracas, Peru, on July 3rd and 4th. 

The Pacific Alliance was created in 2011 as a regional integration initiative which included Chile, Colombia, México and Peru, in the framework of the Forum of the Pacific Arc. Its objective is to define a strong integration area that promotes greater growth, development, and competitiveness of the economies included by progressively seeking the free circulation of goods, services, capital, and people, as well as becoming a platform for economic and commercial integration toward the Asia-Pacific region. 

The objective of the actions proposed by CAF is to boost the role of the Institution with respect to regional integration, supporting the institutional strengthening of new spaces and scenarios in Latin America and the Caribbean.