CAF Invites Andean Parliament to Enhance Border Integration

The executive president of CAF—development bank of Latin America, Sergio Díaz-Granados, called for strengthening border integration in the region, during his participation in the Political Control Session of the Andean Integration System Bodies and Institutions, held by the Andean Parliament in Lima, Peru.

Sergio Díaz-Granados presented a report of his first year in office, in which he highlighted the historic USD 7 billion capital increase unanimously approved by the Board of Directors and the Shareholders’ Meeting, and the accession of Chile, Costa Rica and the Dominican Republic as full members, as well as the recent incorporation of El Salvador and Honduras to the development bank of Latin America and the Caribbean.

“The vote of confidence of the shareholders and the accession of new countries will allow us to double the size of the bank and better meet the needs of Latin America and the Caribbean. Our goal is to become the Green Bank and the economic and social revival. Our financing should be 40% green by 2026, which means that CAF will make available to shareholder countries USD 25 billion for green financing over the next four years,” said Díaz-Granados.

Among the challenges facing the region to improve the quality of life of the people and boost competitiveness, CAF’s executive president highlighted productivity, climate change, food security, the gender gap, digital transformation, regional integration, and the attainment of the Sustainable Development Goals.

“The integration of Latin America and the Caribbean is pivotal to improving trade, boosting small and medium-sized enterprises and energizing border cities. That is one of our priorities at CAF and we are inviting all stakeholders to join in offering comprehensive solutions in infrastructure, regulation, trade facilitation, among others,” added Díaz-Granados.