FONPLATA's high-level dialogue on the Importance of Development Banks Complementarity for the Benefit of the Region, held as part of the celebrations of Bank's 50th anniversary, turned into an unprecedented event.

It gathered representatives of the Central American Bank for Economic Integration (CABEI), the Inter-American Development Bank (IDB), CAF — Development Bank of Latin America and the Caribbean, and FONPLATA — Development Bank, who signed a joint declaration to strengthen their bonds and efforts in the region.

The purpose of this high-level dialogue was to exchange ideas among leaders of financial institutions to address challenges, identify ways to collaborate, and explore strategies with a multisectoral approach to strengthen integration.

One of the outcomes of this meeting was the above-mentioned joint declaration, by which the four banks committed to join efforts to optimize their actions on issues related to climate change, regional integration, and vulnerable populations. Additionally, they agreed to strengthen their cooperation aiming at the sustainable and inclusive development of the countries, through co-financing agreements, innovative financial instruments and mechanisms, as well as the exchange of experiences and best practices.

The welcoming remarks were made by Luciana Botafogo, Executive President of FONPLATA, who highlighted the relevance of the meeting and the need to continue exploring ways of collaboration among regional development banks. She also underscored the importance of the joint declaration, which will mark a milestone in the collaboration of these institutions for the benefit of the countries. Following, Enrique Iglesias, former President of the IDB, congratulated the initiative of creating discussion spaces among multilateral organizations.

Afterwards, Enrique García, former President of CAF, referred to the role of development banks in integration, and then, during the first panel on “Complementarity and Collaboration” Gisela Sánchez, CABEI Executive President, Corina Arroyo, CAF Executive Vice President, and Luciana Botafogo exchanged views on the steps forward.

The second block of the dialogue opened with remarks by Pablo Quirno, Secretary of Finance of Argentina. Next, Rogelio Frigerio, Governor of the Province of Entre Ríos, Argentina, spoke about the opportunities and challenges faced by subnational governments.

Subsequently, integration issues were discussed, under the moderation of João Villaverde, National Secretary of Institutional Articulation of the Ministry of Planning and Budget of Brazil. Carlos Sánchez, Head of Investment and External Financing, CABEI, Miguel Coronado, Manager a.i. of the Andean Group Countries Department and IDB Representative in Venezuela, Jeannette Sánchez, CAF Representative in Bolivia, Oscar Llamosas, Vice President of Strategic Development of FONPLATA, discussed opportunities and challenges. The activity ended with the final remarks of FONPLATA's Executive President.

The discussions held at the Sucre high-level dialogue event were of great importance to identify areas for joint action, promote complementarity between multilateral organizations and develop coordination mechanisms for the efficient management of resources.

06/11/2024