CAF and ILO will work together to promote more and better jobs in Latin America and the Caribbean

CAF -development bank of Latin America- and the International Labor Organization (ILO) signed a Memorandum of Understanding to work together in the implementation of comprehensive programs and projects aimed at promoting opportunities for decent and productive work for men and women, in conditions of freedom, equality, security, and human dignity.

The document foresees that the collaboration between both institutions will be carried out in the context of the digital transformation and its challenge for the countries of the region, as well as overcoming the socio-economic effects caused by the economic, social and health crises

The topics in which cooperation between both institutions in Latin America will be prioritized are: development of labor competences, strategies to promote school-work transition and qualification and competences certification systems; micro, small and medium enterprises focused on formalization and digital transformation; sustainability, fair transition and green jobs and works; and sector and trade policies for the creation of more and better jobs.

During the virtual signing of the memorandum, CAF Executive President Luis Carranza Ugarte stressed: "We continue to forge partnerships to improve the skills and productivity of workers to promote the welfare of the population and the competitiveness of countries. Working together with the ILO will strengthen micro, small and medium enterprises, promote labor formalization and productivity, which are a structural problem in our region that has become more evident with the pandemic.

For his part, the ILO's regional director for Latin America and the Caribbean, Vinícius Carvalho Pinheiro, said that "this agreement with CAF is of the utmost importance because it will allow the two institutions to strengthen their capacity for action at a time when the region must face an unprecedented labor crisis, which has caused the loss of 34 million jobs and has highlighted the need to reduce informality and take concrete steps to move towards the future of the work we want.

The ILO and CAF will cooperate with each other on matters of common interest within their spheres of competence and mandate, and their respective programs of activities to strengthen skills and quality of employment in Latin America and the Caribbean.