Promoting Ibero-American development

(Madrid, May 17, 2007).- The Andean Development Corporation (CAF) and the Ibero-American General Secretariat (SEGIB) today signed a framework cooperation agreement to unite their institutional capacities with the aim of promoting the economic, social, cultural and technological development of the nations of Ibero-America.

The agreement, which was signed by CAF President & CEO Enrique García and SEGIB Secretary General Enrique Iglesias, recognizes the importance of reciprocal support between the two international organizations and of coordination of their activities for the benefit of the Ibero-American nations.

García said, "The agreement will facilitate cooperation between both institutions on activities and projects executed with the objective of promoting the economic, social, cultural and technological development of Ibero-American nations, giving priority to international migration, poverty, social exclusion, cultural diversity, protection of heritage and international cooperation, which are priority issues on the CAF agenda."

The agreement is based on the similar missions of both institutions. SEGIB is the permanent institutional and technical support organization of the Ibero-American Conference, and CAF is a multilateral financial organization which supports the sustainable development of its shareholder countries and Latin American regional integration.