CAF, Development Bank of Latin America and the Caribbean, consolidates its vocation as the bank of and for Latin Americans and Caribbeans with the support of its Board of Directors to incorporate Honduras and the Dominican Republic as members of the institution, which will allow them to have greater access to long-term financial resources, as well as technical cooperation for sustainable development, among other benefits.

At the CLXXVIII Meeting of the CAF Board of Directors, made up of the Ministers of Economy and Finance, and Presidents of the central banks of its 21 shareholder countries, which was held for the first time in Santiago de Compostela, Spain, within the framework of the activities that the institution is promoting with the Government of Spain to promote commercial, economic and cooperation relations between the EU and Latin America and the Caribbean.

“This has been a historic session of the CAF Board of Directors because it was held for the first time in Santiago de Compostela and because it was the prelude to the first meeting of Ministers of Economy and Finance of the EU and the region. The addition of new member countries is a fact that will benefit the entire region and will contribute to strengthening a single voice to face the great challenges of global development in the coming decades. More than ever, Latin America and the Caribbean needs strong and coordinated multilateral institutions that are true allies of the socioeconomic development of our countries,” said Sergio Díaz-Granados, executive president of CAF.

"The Spanish presidency of the EU is an opportunity that will have historical significance to turn the ties between the European Union and Latin America and the Caribbean into a true strategic alliance. I am convinced that our meetings these days will be a success and that, when we look behind, we will be able to reinforce that feeling of pride of being doing what the world needs together,” said Nadia Calviño, First Vice President and Minister of Economy and Digital Transformation of the Government of Spain.

Now more than ever, Latin America and the Caribbean need strong and coordinated multilateral institutions that are true allies of the socioeconomic development of our countries.

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Sergio Díaz-Granados, executive president of CAF

Credit approvals totaling USD 927 million

- CAF approves operations for USD 650 million for road infrastructure and the BNDES in Brazil

- CAF will support the implementation of a telemedicine system in El Salvador with a credit of USD 77 million

- CAF supports Panama's leadership in energy and environmental transition policies with a USD 200 million credit

In addition, the first vice president and acting minister of Economic Affairs and Digital Transformation,Nadia Calvino, and Diaz-Granados, signed an agreement for the subscription of Spanish shares in the institution's capital increase for USD 302 million.

The development bank of Latin America and the Caribbean also expressed its solidarity with Cuba in the face of the persistent effects of Hurricane Ian, and will provide humanitarian aid of USD 250,000 to contribute to UNICEF's actions in the recovery of water and sanitation supplies, as well as improving hygiene conditions in educational centers and improving the nutritional status of girls, boys and pregnant women in communities in 4 municipalities of Pinar del Río.

Spain hosted the CLXXVIII Meeting of the CAF Board of Directors in Santiago de Compostela as it is a shareholder country of the multilateral organization, and as a prelude to the historic meeting that will take place this September 15 between the 33 ministers of Economy and Finance of Latin America and the Caribbean with its 27 peers from the European Union, organized by the Government of Spain and CAF, to land an agenda of European investments in key development sectors in the region that allow us to jointly face major global challenges such as climate change, digital transformation , food security or poverty reduction.