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The Development Bank of Latin America and the Caribbean (CAF) approved US$2.478 billion in financing for strategic projects in the region. These resources will target key areas such as energy transition, poverty and inequality reduction, digital transformation and climate resilience, strengthening CAF’s capacity to mobilize funds for sustainable development.
The projects will encompass diverse initiatives, including the modernization of urban and rural infrastructure, the promotion of agricultural competitiveness, improvements in urban mobility and water and sanitation services, as well as social equity. These actions seek not only to improve the quality of life for millions of citizens, but also to foster more dynamic and resilient economies throughout the region.
Sergio Díaz-Granados, CAF’s executive president, highlighted the importance of these investments: “We are working to address the region’s main challenges, such as the impacts of climate change, the creation of sustainable infrastructure, energy transition and social inclusion”. These initiatives also consolidate CAF as a key player in promoting environmental sustainability.
In line with its environmental commitment, 35% of the financing approved for 2024 will be allocated to biodiversity protection projects, preservation of ecosystems and actions against climate change. This reaffirms CAF’s goal of dedicating 40% of its portfolio to sustainable initiatives by 2026, positioning itself as the region’s green bank.
CAF also launched a new Financing Facility for Investment Projects in the Caribbean, with a fund of up to US$50 million. This instrument seeks to support economic and social infrastructure initiatives, as well as projects related to climate change, adapted to the specific needs of CARICOM member countries.
Finally, Antigua and Barbuda made progress in its process of becoming a shareholder of CAF, with the approval of the extension of shares for the Caribbean country. This strengthens regional integration and consolidates CAF’s role as a strategic partner in the sustainable development of Latin America and the Caribbean.
