President of Chile, Michelle Bachelet, visits CAF

(Caracas, April 18, 2007).– Chilean President Michelle Bachelet made an official visit to CAF headquarters in Caracas to move forward the strengthening the regional cooperation and integration process. During the visit a Memorandum of Understanding was signed by Chilean Foreign Minister Alejandro Foxley and CAF President & CEO Enrique García. The purpose of the memorandum is to develop and expand existing relationships between Chile and CAF, and deepen economic ties between the countries of Latin America and the Caribbean, and the Asia-Pacific region.

At the signing, García said, "this visit confirmed the willingness of the two parties to promote and strengthen regional integration and social development in a sustainable way in an effort to improve the quality of life of the continent’s inhabitants." At the end of the meeting, he emphasized the great importance of deepening CAF’s relations with Chile "a country which has historically played a key role in achieving the objective of balanced and harmonious development of the countries of the region, in pursuit of economic growth with equity, which is in line with the Corporation’s mission."

President Bachelet, who was witness of honor at the signing, was accompanied – in addition to Foreign Minister Alejandro Foxley – by Minister of Housing and Urban Development Patricia Pobrete, Minister of the National Women’s Service Laura Albornoz, and parliamentarians and business leaders.

The Chilean delegation and the CAF working team explored aspects related to closer involvement in various programs and projects developed by the institution, as well as issues of mutual interest for reinforcing economic ties between Latin American countries and the Asia-Pacific region, through a variety of schemes including cooperation funds to be co-managed by Chile and the Corporation.