CAF plays proactive role at World Economy Forum’s summit on Global Agenda

(Dubai, Nov. 14, 2012).- More than 1,000 leaders from 80 countries attended the World Economic Forum’s fifth Summit on the Global Agenda in Dubai on Nov. 12-14, generating and exchanging ideas on creative solutions to major global problems.

CAF –development bank of Latin America– was represented by President Enrique García, co-chair of the Global Agenda Council’s Latin American chapter. Among other issues, García addressed the major geopolitical challenges ahead; the regional responses to the global economic outlook, in particular unemployment among the youth; the challenges of good governance, development, growth and sustainability; alternatives to achieve greater social inclusion, and the need for greater international cooperation.

CAF’s work was the focus of a panel in which García participated along with Donald Kaberuka, president of the African Development Bank (AfDB) and co-chair of GAC’s African chapter; Leslie W Maasdorp, president of Bank of America Merrill Lynch for Southern Africa and vice-chair of GAC’s African chapter; Tarik Yousef, CEO of Silatech and vice-chair of GAC’s Arab World chapter; and Jacob Kolster, director for North Africa at the AfDB and member of GAC’s Arab World chapter. The panel focused on how CAF promotes the exchange of ideas, especially on “the contribution of private capital to development: the impact of investments, the role of philanthropy and the catalytic role that development banks can play.”

GAC’s summit was attended by Sheikh Mohammed Bin Rashid Al Maktoum, Vice President and Prime Minister of the United Arab Emirates and Ruler of Dubai. The inaugural session was opened by Sultan Bin Saeed Al Mansoori, Economy Minister of the UAE and co-chair of the Summit on the Global Agenda 2012, along with Anwar M. Gargash, Foreign Minister of the UAE, and Sami Dhaen Al Qamzi, director-general of the Department of Economic Development of the Government of Dubai and CAG co-chair. Klaus Schwab, founder and executive chairman of the World Economic Forum, was the moderator.