It was also announced that, in 2023, CAF will organizeon the occasion of the Spanish presidency of the Council of the European Union (EU), a meeting between the 60 ministers of Economy and Finance of the EU and the Latin American and Caribbeanwith the objective of align interests, sync calendars development, strengthen geopolitical ties and strengthen trade relations between both regions.
CAF grows
In 2022, the CAF Assembly approved the largest capitalization in the history of the institutionfor $7 billionwhat will allow you to double your portfolio by 2030. new resources will support economic recovery in shareholder countries and will contribute to consolidate the multilateral organization as the green bank of Latin America and the Caribbean.
Thanks to having managed to capitalize like never before in its history, the new funds that the organization will have will be used to promote the just energy transition for the countries of the region, support subnational governmentsEncourage the Regional integration and strengthen the role of the private sector.
New member countries
During the year, The Savior, Chili Y Costa Rica they became full members of CAF, something that will allow them to access new tools and financial instruments, technical assistance and knowledge generation for both the public and private sectors in favor of the population, sustainable development and regional integration. To this is added the creation of a CAF management for the Caribbeanwhich will facilitate a greater Caribbean integration and will provide swift and effective support for the region’s economic recovery.
In case of Chili is especially illustrative of the growing importance of CAF in the continent. The Andean country, one of the original founders of CAF, rejoined the organization as a full member and, after 45 years, will once again access financing lines and have a voice and vote in the organization’s decisions.
environmental proposal
On this particular point, CAF announced that it will invest $1.25 billion to preserve the health of oceans. In addition, he continued working on the main lines of action to become the green bank in Latin America and support the countries of the region in their environmental conservation commitments, preservation of natural ecosystems and energy transition.
Total, in the next five years CAF will mobilize $25 billion to encourage the green growth in the region. This means that CAF’s green portfolio will pass 24% in 2020 to the 40% in 2026.
Another of the most important initiatives of 2022 was the creation of the Biodivercities Networkwhich is contributing to that the conservation of biodiversity be one central part of the planning, territorial ordering and socio-economic development of cities of Latin America and the Caribbean. At the end of 2022, the initiative had been signed by more than 100 city mayors from the entire region.
Source: Ambito
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