CAF promotes institutional strengthening of the Pacific Alliance

With the purpose of promoting institutional strengthening of the Pacific Alliance, a Technical Cooperation Agreement was signed today between CAF–development bank of Latin America–and the Ministry of Foreign Affairs of the Republic of Peru, which holds the pro tempore presidency of this regional bloc.

The objectives of the agreement include the strengthening of the governance model of this important regional integration scheme, through the design of a more flexible process management mechanism to help achieve its development goals, as well as to hold the 1st Technical Cooperation Forum of the Pacific Alliance with its Observer States, in order to coordinate external cooperation.

The agreement between the Minister of Foreign Affairs of Peru, Néstor Popolizio, and CAF executive president, Luis Carranza, was signed at 12:00 p.m., in the Treaty Room in Palacio de Torre Tagle.

Since the creation of the Pacific Alliance, CAF has supported various initiatives to strengthen and promote this important economic bloc, in particular, for projects related to integration of MILA’s equities market. In addition, CAF was one of the multilateral institutions that provided technical and financial assistance in structuring and management of the Pacific Alliance Infrastructure Fund (FIAP) and, together with the SME Technical Group, it defined the bases for the project on Strengthening and Regional Articulation of Business Development Centers of its four member countries. In addition, significant contributions have been made in the field of digital transformation to improve coverage and productivity.