CAF furthers relationship with South Korea to boost regional infrastructure and urban development
With the signing of a memorandum of understanding between CAF and Korea’s Infrastructure and Urban Development Corporation (KIND), innovative mechanisms for cooperation between Latin America and South Korea will be explored to broaden the participation of the private sector in urban development and infrastructure.
CAF-development bank of Latin America- and Korea’s Infrastructure and Urban Development Corporation (KIND), signed an MOU to explore opportunities for cooperation and collaboration on matters of common interest, especially on the development of sustainable infrastructure, in which the private sector plays a fundamental role.
The memorandum of understanding was signed in Seoul by CAF’s executive president, Luis Carranza, and the CEO of KIND, Kyong-goo Hur.
“Strengthening relations with South Korea and working hand in hand with entities such as KIND, which promotes infrastructure development, will enable us to exchange knowledge and attract resources that favor productivity and inclusive growth in Latin America,” said CAF’s Executive President.”
The purpose of the cooperation agreement is to explore and perform supplementary work on sustainable infrastructure and urban development. It also opens the possibility of co-funding development projects of mutual interest in the countries, providing technical assistance and promoting exchange of expertise and institutional capabilities through seminars and workshops.
During his visit to South Korea, the Executive President of CAF met with the Minister of Foreign Affairs of the Republic of Korea, Kang Kyung-wha, the Minister of Land, Infrastructure and Transport, Kim Hyun-mee, the President of Korea International Cooperation Agency (KOICA), Lee Mikyung, and the general director of Finance for Development of South Korea’s Ministry of Strategy and Finance, Yoon Taesik. Carranza also participated in the “Korea-LAC Future Cooperation Forum 2018.”
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