Joint efforts to explore co-financing opportunities for high-impact projects in Latin America.

Washington DC, October 23, 2024. CAF — Development Bank of Latin America and the Caribbean and FONPLATA — Development Bank signed a framework cooperation agreement to join efforts to promote sustainable and inclusive development in Latin America.

The agreement establishes a framework for collaboration between both institutions to explore the feasibility of developing and financing projects of mutual interest in key areas such as infrastructure, productivity, renewable energies, water and sanitation, educational innovation, gender equality, employment generation, climate change, and food security.

CAF's Finance Vice President, Gabriel Felpeto, highlighted the importance of this alliance: “This agreement represents a significant step in our commitment to turn CAF into the green bank and the bank for sustainable and inclusive growth in Latin America. By joining forces with FONPLATA, we are multiplying our capabilities to generate a positive impact on the quality of life of Latin Americans.”

FONPLATA's Finance Vice President, Rafael Robles, highlighted the importance of working in a complementary manner with other banks in the region: “Strengthening our ties with institutions such as CAF is key to deepen integration and development in our region. Within this framework, we will continue reinforcing our commitment to work towards improving the quality of life of our citizens and, at the same time, broadening our horizon and extending our borders.”

The agreement includes various forms of collaboration, such as co-financing, support with technical cooperation resources, financial agreements, the creation of joint funds, and the exchange of information and experiences.

The agreement, signed on October 23 during the Annual Meetings of the International Monetary Fund and the World Bank Group, is another milestone in a series of joint actions that both institutions have undertaken in recent years. By leveraging their combined experience and resources, FONPLATA and CAF seek to promote transformational changes that contribute to the sustainable development goals of their member countries.

Both institutions are committed to working in coordination to identify and develop high-impact projects that contribute to the harmonious and sustainable development of their member countries, promoting regional integration and value creation in strategic sectors.

10/24/2024