CAF partners with MCDF for SDG and Paris agreement-aligned initiatives in Latin America and the Caribbean

CAF—development bank of Latin America—continues to add partners to improve the welfare of the population and close competitiveness gaps. This time, it is the Multilateral Cooperation Center for Development Finance (MCDF), a multilateral financial mechanism that aims to promote high quality investments in infrastructure and connectivity—with international standards—in developing countries.

The MCDF approved CAF as the Implementing Institution for the bank’s initiatives in Latin America and the Caribbean. This comes as good news for the region as it will allow it to access non-reimbursable resources for project preparation and knowledge transfer, aligned with the G20 quality infrastructure principles, the Sustainable Development Goals (SDGs) and the Paris Climate Agreement.

This strategic partnership is expected to result in project preparation, capacity building, and knowledge transfer in sectors of interest such as energy, water, transport and logistics, and information and communication technologies (ICTs).

MCDF is a multilateral financial mechanism conceived to promote investments in high-quality infrastructure and connectivity in developingcountries. Established in 2020, the MCDF assists developing countries, international financial institutions and new partners in addressing quality and sustainability challenges affecting cross-border infrastructure and connectivity within the scope of their efforts to implement the G20 Quality Infrastructure Principles.