Latin America and OECD analyze successful local development experiences

(Bogotá, September 16, 2008). With the purpose of analyzing the importance of efficiency and effectiveness of public policies as means of developing the local economy and social inclusion, the Corporación Andina de Fomento (CAF), the Organization for Economic Co-operation and Development (OECD), and Colombia’s National Planning Department (DNP) held the international conference “Efficient Local Development Strategies: Exchange of Experiences between Latin America and the OECD” at the Universidad de los Andes in Bogotá.

Representatives of the public and private sectors from countries such as Colombia, the United Kingdom, Spain, Brazil, and Ecuador exchanged experiences that permitted the identification of key success factors and the criteria necessary for implementing local economic development strategies.

During his speech at the opening of the event, CAF’s Vice President and Deputy CEO, Luis Enrique Berrizbeitia, stated that this encounter was in line with the promotion of CAF’s Comprehensive Development Agenda, which aims to achieve sustained, quality development for Latin America. Berrizbeitia added that social demands occur mainly on the local level, spheres where inequality can be fought and social inclusion furthered.

As for the director of the OECD’s Center for Entrepreneurship, SMEs and Local Development, Sergio Arzeni, he said that this encounter, which was being held thanks to the strong alliance between this organization and CAF, would help Colombia to overcome the challenge of promoting economic development accompanied by job creation.

The director of the DNP, Carolina Rentería, stressed that CAF had always accompanied the Colombian Government in meeting its objectives, which were directed at making progress in local development above and beyond administrative and fiscal decentralization, improving regional competitiveness, and achieving social cohesion and the reduction of regional disparities, as well as working on long-term views in the region’s strategies.