Public Clarification
Public clarification regarding comments made on social media today, February 28, 2021
CAF—development bank of Latin America—wishes to make the following statement to the public: CAF is a multilateral institution with a 50-year history in favor of inclusive development in Latin America and the Caribbean, and has approved more than USD 200 billion for projects that have improved the quality of life of Latin Americans.
The institution fulfils its mission to promote sustainable development and regional integration based on a strong institutional structure that ensures respect for the rights of all its officials. In this sense, CAF has clear and transparent rules and processes that rigorously observe the provisions contained in the labor legislation of each of the countries in which it operates, as well as in the relevant international conventions.
As an international body under public law, CAF has guidelines that dictate the political independence of its officials. In this sense, Article 39 of its Articles of Incorporation sets out that “in the performance of its duties, the staff shall not seek or receive instructions from any Government or from any other authority external to the Corporation. It shall refrain from any action which might reflect on their position as international officials responsible only to the Corporation.”
At CAF, labor contract terminations are based on evaluation processes that are defined in current internal regulations and that meet high international standards, based on efficiency criteria and ethical principles. Subsequent disputes that may arise from such terminations are resolved in the relevant legal contexts.
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