CAF Reaffirms Commitment to Uruguay's Socio-Economic Development

CAF- Development Bank of Latin America executive president Luis Carranza met with Uruguayan President Tabaré Vázquez during a visit to meet with the CAF Board of Directors, with the aim of reaffirming the entity’s commitment with the country's socio-economic development and address a variety of key issues involving sustainable growth in the medium and long term.

"Uruguay, like the vast majority of Latin American countries, is facing the challenge of boosting productivity and innovation to close the country's major development gaps,” Carranza said. “In this sense, it is important to strengthen the link between education and labor, promote competitiveness and influence the improvement of educational quality and relevance.”

Over the past five years, the multilateral agency has approved as much as $60 billion in Latin American development funding. Meanwhile, at the local level, CAF has approved more than $5 billion since 2010 to boost a variety of Uruguay’s strategic sectors.