CAF and BNDES prepare new financial instruments to promote investments in Brazil

The Minister of Planning of Brazil, Romero Jucá, and Enrique García, Executive President of CAF, Development Bank of Latin America, met today in Rio de Janeiro during the 46th General Assembly of the Latin American Association of Financial Institutions for Development (Alide) where they suggested alternatives to strengthen the relationship between CAF and Brazil, support the recovery to achieve sustainable long-term economic growth, and promote its integration with Latin America. 

A first step in that direction was the signing of a Memorandum of Understanding with the Banco Nacional de Desarrollo Económico y Social (BNDES) (National Bank for Economic and Social Development), aimed at promoting advances in cooperation between the two institutions, particularly, the structuring of new financial instruments that generate an increase of investment in the area of infrastructure in Brazil. The Minister of Planning, Romero Jucá, was the witness of honor of the signature of this document. The President of the BNDES, Luciano Coutinho and Enrique García led the event.

The President of CAF was also the protagonist of the 46th General Assembly of Alide. When speaking about the challenges faced by Latin America in the current international situation, Garcia assured that the region has the necessary conditions to resume a sustainable long-term growth. He stated, "The best road to achieve this is through the productive transformation of our economies, enabling us to evolve from a model of traditional comparative advantages to another of dynamic comparative advantages in sectors that incorporate more value added. Only then we will be able to achieve superior levels of development with stability, efficiency, social inclusion, and environmental sustainability". 

Enrique García's visit to Brazil also included the signature of an agreement with the Centro Brasileño de Relaciones Internacionales (Cebri) (Brazilian Center of International Relations), which will lead to an exchange of information between the two institutions, as well as the development of studies and events regarding integration between the countries of the region.