Digital inclusion and green financing open up new business opportunities between Latin America and Europe

Prominent opinion leaders from Latin America and Europe, gathered at the CAF Conference in Madrid “Europe-Latin America Relations,” have found that “digital inclusion and green financing open up new business and cooperation opportunities between Europe and Latin America, whose strategic partnership is necessary now more than ever,” in the context of the transitional world in which we are living, with profound changes affecting countries and their citizens. In addition, they have described dialogue and rapprochement between the two regions as indispensable in a global context marked by the emergence of multiple leaderships and the lack of consensus to address major challenges, whether in the commercial, political or environmental field.

Following the welcoming remarks of Antonio Pérez-Hernández y Torra, director general of Casa de América, Luis Carranza, executive president of CAF—development bank of Latin America— made it clear that “despite the trends of protectionism, there is an inescapable process of greater integration and globalization between different countries.” Carranza further noted that “the most open and innovative economies grow the most, and the companies that flourish the most are the most formal and the ones that pay the best salaries.”

He highlighted that “digital innovation has a direct impact on people’s lives if it is incorporated by public systems to close the digital divide.” On green financing, CAF executive president stressed that “it is important to mitigate the impacts of industrial life on the Latin American environment.”

In addition, Ana de la Cueva, Spain’s Secretary of State for Economy and Business Support, highlighted the relevance of development banks and their contribution to achieving the Sustainable Development Goals and the 2030 Agenda, and encouraged Latin America to “play a key role in the Atlantic region and consolidate itself as a strategic partner of the European Union.” She also noted the importance of working on digital inclusion.

The conference was divided in three panels that discussed different topics related to the global challenges for both regions. The first panel focused on Latin America-Europe relations and the challenges they face, such as the development of a new generation of trade agreements, moderated by Michael Reid, a columnist for The Economist and author. This panel featured: Jorge Castañeda, NYU professor and former Foreign Secretary of Mexico; Susana Malcorra, former Minister of Foreign Affairs and Religion of Argentina; Joanna Crellin, High Commissioner for Latin America and the Caribbean at the UK Department of International Trade, and Andrew Jacobs, Head of Regional Political Analysis Unit at DEVCO, European Commission.

The second panel of the day discussed the challenges of digital inclusion for cities and territories, highlighting successful experiences, public-private partnerships in the provision of services and improvements in urban and territorial management. This panel was moderated by Alicia González, editor of the international section of El País, and featured: Allan Ruiz, executive secretary of COMTELCA and former deputy minister of Telecommunications of Costa Rica; Sebastián Serrano, founder of Ripio, Argentina; Joan Obradors, partner of Analysys Mason, and Jorge Aguilera, director of Public Administrations and Smart Cities at Indra.

Finally, the third panel focused on identifying opportunities that green funding brings for rapprochement between the two regions and sustainable development, and featured: Valvanera Ulargui, director general of the Spanish Climate Change Office; Samuel Dyer, Chairman of the Board of Directors of the DC Group, director of Reforestadora Inca S.A. and honorary director of Camposol; Johannes Scholl, head of the Energy and Financial Sector Division for Latin America and the Caribbean at KfW, Germany, and Elena Valderrábano, Global Director of Corporate Ethics and Sustainability at Telefónica. This panel was moderated by Esther Rebollo, Director of the International Division at EFE.

Rebeca Grynspan, General Secretary of the Ibero-American General Secretariat; Antonio Garamendi, president of the Spanish Confederation of Business Organizations (CEOE), and CAF representative for Europe, José Antonio García Belaunde, were in charge of closing the Conference, which brought together a large number of professionals and opinion leaders from different sectors on both sides of the Atlantic.

The CAF Conference is an annual event that brings together major opinion leaders from different sectors to address the main common challenges facing both regions. This year CAF celebrates its 50th anniversary, and this annual event was preceded by a concert held at the San Fernando Royal Academy of Fine Arts in Madrid.