CAF and CELAC to build responsiveness to natural disasters.

In the context of the 78th United Nations General Assembly, CAF—development bank of Latin America and the Caribbean—and the Community of Latin American and Caribbean States (CELAC) signed a joint declaration to implement the Climate Adaptation and Comprehensive Natural Disaster Response Fund (FACRID), aimed at ensuring funds and advancing projects for disaster prevention, abatement, responsiveness, mitigation and recovery in the region. 

The document reiterates CAF's support for FACRID and includes an option for the bank to participate as a guest on the Fund's Steering Committee. The activities envisaged in the declaration include technical and financial cooperation, and joint project identification and implementation in areas of mutual interest for disaster prevention, preparedness, mitigation, and response and/or adaptation to climate change. The parties also undertake to design innovative financial instruments to facilitate and foster voluntary contributions to the Fund.

Similarly, the declaration signed by both organizations expresses the interest of member states in fostering an exchange of experiences and reinforcing networks and partnerships with private, public, and civil society stakeholders, as well as with multilateral cooperation agencies and institutions. The document also urges countries and regional organizations to support the FACRID and to make voluntary contributions for adequate implementation.

Christian Asinelli, CAF Corporate VP of Strategic Programming

"At CAF, we wish to reiterate our commitment to working for an improved resilience of our communities against natural disasters and extreme weather events. We are convinced of the urgent need to bolster regional and international cooperation for financing of projects that offer innovative, sustainable, and long-term solutions to this issue, e.g. the creation of agile regional funds or mechanisms," stressed Christian Asinelli, CAF Corporate VP of Strategic Programming. "This joint declaration underscores the need to engage the civil society, the private sector and other relevant stakeholders in improving Latin America and the Caribbean's responsiveness to climate change and moving towards a sustainable and safe development model," he added.

FACRID was presented at CELAC's 6th Summit of Heads of State and Government, held on September 18, 2021 in Mexico City, as a solution to the need to develop common strategies to improve coordination in disaster risk management and reduction across the continent.