the The European Commission announced an investment of 45 billion euros to take relations between the European Union and Latin America and the Caribbean to another level. The new cooperation and investment agenda will focus on projects ranging from Produce clean hydrogen or extend the network of high-throughput data cables to produce more advanced mRNA vaccines.
Latin America and the Caribbean have much to contribute to the present and future of Europe. In the same way, Europe has the potential to contribute to our region as a whole, thinking in the interest of citizens and the planet.” Sergio Diaz GranadosCEO of CAF -Development Bank of Latin America and the Caribbean-, one of the organizations actively promoting relations between the European Union and the region, which has identified 67 national and regional initiatives to embody European investment.
Examples of investment projects in which CAF will be involved are those related to bringing connectivity to 85% of Colombians by 2026, hydrogen production in Chile and Uruguay, sustainable mobility in San José, Quito, Bogota, Montevideo and São Paulo, renewable energy deployment in Jamaica, water and sanitation projects to combat Chronic malnutrition of children throughout Ecuador, among others.
The Global Gateway (the European Union’s platform for global investment and cooperation) agenda will focus on Latin America and the Caribbean in the fight against Climate change, the promotion of renewable energies, digital services, electric mobility, a new role for natural resources, with technology transfer and the promotion of agribusiness.
We are interested in seeing relations between Europe and Latin America and the Caribbean reach their full potential. We have a common interest in seeing our industries grow, develop global value chains and have more and more people in the middle class. “We don’t want relations to be purely commercial, but we want to grow together,” said von der Leyen, President of the European Commission.
To take advantage of the opportunities, it is necessary for the regions to deepen our trade agreements and economic integration. I can confirm that the progress in the ratification of the EU agreements is very close and this has a lot to do with the leadership of the European Commission Presidency and therefore we are confident that it will happen during this chapter of the European Presidency. said Pedro Sanchez, Head of Government of Spain.
It is companies, universities and civil society that give life and continuity to relations between different countries. This meeting confirms that our entrepreneurs are fully committed to relaunching this historic alliance based on the certainty that the success of one side is essential to all,” said Luiz Ignacio Lula da Silva, President of Brazil.
“The EU’s new agenda for Latin America and the Caribbean arises at a time when our region is evolving in areas that are critical to the future of the entire planet. Latin America is now ideally positioned to be part of the solution to the world’s biggest challenges, including climate change, food insecurity and the protection of biodiversity “By working more together, the public and private sectors in our region can make this opportunity a reality,” said Ilan Goldfein, President of the Islamic Development Bank.
CAF is developing innovative financial instruments such as guarantees, insurance, financial coverage and debt swaps for nature conservation, better use of the Special Drawing Rights and for this it is expanding its alliances with key players such as the European Central Bank and the European managers of the International Monetary Fund.
Latin America and the Caribbean has a proven ability to propose profitable and high impact ideas, solutions and courses of action. Europe, Latin America and the Caribbean are compatible in their values, vision of development and understanding of the world. We are a joint product of history. Our struggle for democracy and social movements go hand in hand. We live in a common core, ”concluded Diaz Granados.