CAF will allocate millionaire investment for the growth of Latin America

The Development Bank of Latin America (CAF) will allocate 25,000 million dollars to promote green growth in the next five years in the region.

The institution presented this commitment this Tuesday at COP26 in Glasgow to finance projects that increase climate resilience, promote the energy transition and strengthen the ecosystem conversation, according to a statement.

Likewise, CAF also proposes to strengthen third party financing sources through the issuance of bonds and green funds, as well as to promote strategic alliances that allow the promotion of coordinated work between governments, civil society, international organizations, NGOs and the private sector.

The executive president of the institution, Sergio Díaz-Granados, pointed out that the planet needs the leadership of Latin America and the region must take advantage of its position to achieve sustained economic growth that helps close the structural gaps open in the region.

Among the first actions of this new strategy is the contribution of one million dollars to reinforce the agreement between Colombia, Costa Rica, Ecuador and Panama to conserve the Marine Corridor of the Eastern Tropical Pacific.

Thus, the firm will build a platform to mobilize climate and environmental funds to mobilize at least 1.5 billion dollars of concessional financing in the region.

In parallel, it will create an HBU for the Caribbean in Trinidad and Tobago, which will give special emphasis to environmental issues and prevention of natural disasters.

Among other lines to become a green bank, CAF will support the formation of a regional carbon market in the region, which channels international resources, in favor of the productive, sustainable and resilient transformation of Latin America and the Caribbean.

K. Tovar

Source: Atalayar