By Europa Press
The Latin American Development Bank (CAF) has approved a total of US$14,094 million throughout 2022 to finance development initiatives in Latin American and Caribbean countries.
These funds were used to encourage economic revitalization, the productive and financial sector, and focused, among others, on energy, transport, telecommunications, water and sanitation, the environment, climate change, education and digitization infrastructures.
In addition, the CAF Council approved the largest capitalization in the history of the institution, with a value of 7,000 million US dollars, which will allow it to double its portfolio by 2030. “The new resources will support economic revitalization in the contributing countries, and help us establish ourselves as a green bank for the region,” the multilateral organization explained.
Of interest: Countries in Central America and the Caribbean are joining the Biodivercities for a Better Future initiative
As for the environmental proposal, the Bank has announced that it will invest US$1.25 billion to preserve the health of the oceans. sum, In the next five years, the Confederation of African Football (CAF) will mobilize US$25,000 million to promote green growth in the area. This means that CAF green portfolio will go from 24% in 2020 to 40% in 2026.
During the year, El Salvador, Chile and Costa Rica became full members of CAF, Something that will give them access to new financial instruments and tools, technical assistance and knowledge generation for both the public and private sectors for the benefit of population, sustainable development and regional integration.
Added to this is the establishment of the CAF Caribbean Office, which will facilitate further Caribbean integration and provide “agile and efficient” support for the region’s economic recovery.
The case of Chile “particularly illustrates” the growing importance of CAF on the continent. Andean country, one of the original founders of CAF, He returned to the body as a full member, and 45 years later, He will again have access to funding lines and will have a voice and vote in the decisions of the organization.
“The reintegration of Chile as a full member is great news for the strengthening and consolidation of CAF as a major player in development and integration in Latin America. We are proud to work with the Chilean government To promote the country’s economic and sustainable growth and the entire region,” emphasized the CAF CEO, Sergio Diaz Granados.
In 2022, CAF strengthens its role as the official spokesperson for Latin America and the Caribbean in other regions by synergizing with strategic allies such as the United States, Europe, China and the Middle East, contributing to the region’s integration into global decision-making forums.
