CAF and USTDA will work jointly to promote economic, environmental, and social development in Latin America

Enrique García, Executive President of CAF, Development Bank of Latin America, and Leocadia I. Zak, Director of the United States Trade and Development Agency, subscribed a Memorandum of Understanding to promote economic, environmental, and social development in the region.  

Enrique García stated, "We are pleased to strengthen the links with the United States Trade and Development Agency through the signature of this cooperation agreement, as it will contribute to promote initiatives for the development and integration of the region in key sectors of CAF's comprehensive agenda for Latin America". He also highlighted the Latin American financial institution´s willingness to work jointly with the USTDA to identify the structural challenges and opportunities in the current regional and global context. 

At the same time, Leocadia Zak, Director of the USTDA, highlighted that the Memorandum of Understanding represents a commitment with the development of infrastructure in Latin America and the Caribbean. She added, "We are pleased to formalize our association with CAF, and we believe that together we can achieve much".  

The agreement seeks to promote initiatives that promote cooperation, integration, and financing for projects and programs in the energy, transportation, and telecommunications sectors, as well as in other areas of interest in Latin America and the Caribbean. 

Through this agreement, CAF and USTDA will coordinate strategies and activities related with trade, investment, and the region's economic development. In addition, the agreement promotes the exchange of information, organization of seminars, workshops, and regional fora to improve knowledge management and institutional capacities, as well as joint publications and other mechanisms agreed by the parties.