The Development Bank of Latin America and the Caribbean (CAF) and the OPEC Fund for International Development have renewed their alliance by signing a new Framework Cooperation Agreement. This agreement aims to strengthen collaboration between both institutions to promote sustainable development in Latin America.
One of the main initiatives of this renewed alliance is the creation of a fund of up to 1,000 million dollars in co-financing for infrastructure projects in the region. This fund will support initiatives that drive economic growth, social inclusion, and environmental sustainability in Latin American countries.
According to CAF's Executive President, Luis Carranza, this strategic partnership with the OPEC Fund is essential to address the development challenges in the region. Carranza emphasized the importance of working together to promote projects that generate a positive and sustainable impact on the quality of life of the Latin American population.
In the words of Almudena Fernández, CAF's associations director, this new agreement reaffirms the commitment of both institutions to sustainable development and reducing the infrastructure gap in Latin America. Fernández highlighted the importance of joining efforts to promote the implementation of projects that contribute to the well-being of the region as a whole.
