CAF reaffirms its commitment to green financing to advance Sustainable Development Goals

The Secretary-General of CAF-development bank of Latin America-, Victor Rico, emphasized the institution’s commitment and contribution to promoting green finance in the region to advance the Sustainable Development Goals during his speech at the 73^rd United Nations General Assembly, the Sustainable Development Impact Summit organized by the World Economic Forum, the One Planet Summit with the International Development Finance Club (IDFC), the Global Forum on Latin America and the Caribbean, and bilateral meetings with high-level representatives.

“As part of our strategy to mobilize resources for Latin America in the 2016-2017 period, we have either executed or identified co-funding operations for a total of USD 2.5 billion, of which USD 1.0 billion was disbursed from multilateral funds, institutions and official development agencies,” said the Secretary-General of CAF in his speech at the Sustainable Development Impact Summit organized by the World Economic Forum.

Victor Rico explained that CAF’s contribution is mainly aimed at promoting low-carbon, resilient infrastructure in Latin America, in addition to the support from the IDFC—an international network that integrates 23 major national and regional development banks—which pledged a total of USD 200 billion to combat the effects of climate change and to align themselves with the Paris climate agreement.

During his visit to New York, CAF’s Secretary-General also held bilateral meetings with the Vice President and Foreign Minister of Costa Rica, Epsy Campbell; Colombia’s Foreign Minister, Carlos Holmes Trujillo; the Paraguayan Foreign Minister, Luis Alberto Castiglioni; and the regional director of the UNDP for Latin America, Luis López-Calva.

Rico also participated in activities organized by the Council of the Americas—sponsored by CAF—with heads of State of the region to promote investments in Latin America.