CAF and UNDP: Partnership for Development in Latin America and the Caribbean

CAF -the development bank of Latin America and the Caribbean- and the United Nations Development Programme (UNDP) have signed a framework agreement on procedures that will allow both institutions to collaborate more agilely in generating knowledge, providing technical assistance, and financing instruments to offer comprehensive solutions with local impact in alignment with the national development priorities of the countries in the region.

This partnership reflects a unique complementarity of capabilities and experiences, where six decades of UNDP's broad established presence in the region enhance CAF's vision and reach as the development bank of Latin America and the Caribbean. Both organizations are firmly committed to being a driving force for progress and well-being for Latin American and Caribbean societies, recognizing the importance of dialogue, participation, and consensus-building among different sectors of society.

"We continue to strengthen our cooperation with the UNDP to offer more efficient solutions that allow us to provide a quicker and more comprehensive response by leveraging the capabilities and experience of each institution to serve the communities. 2030 is getting closer, and the window of opportunity to drive the achievement of the SDGs is narrowing, which is why we have reinforced our partnership with the UNDP to accelerate our efforts and ensure no one is left behind," stated Sergio Díaz-Granados, Executive President of CAF.

Michelle Muschett, Assistant Administrator and Regional Director of UNDP for Latin America and the Caribbean, stated, "As UNDP, we recognize the importance of partnerships to advance our mandate of reducing poverty, promoting sustainable development, and strengthening democratic governance at the speed and scale demanded by today's challenges. Through this agreement with CAF, we take our partnership to another level, which will allow us to more agilely accompany national and local development priorities without leaving anyone behind".

The signed agreement adds to the Memorandum of Understanding signed in 2006 and reinforced in 2022, which promotes the exchange of knowledge and support for projects in areas of democratic governance, including public sector reforms; digitalization and capacity development initiatives; climate action, including efforts for disaster risk reduction and green financing; sustainability-linked bonds, and the promotion of gender equality among others.