The Development Bank of Latin America and the Caribbean, CAF, has a new member, after the incorporation of the Bahamas as a shareholder country.

The organization now has 22 member countries and is emerging as the “development bank with the greatest presence in the region, which will translate into greater support for green and sustainable development projects.”

The inclusion of the Bahamas as a new member occurs after completing all the requirements to become a “Series C Shareholder,” which will grant it access to “agile, flexible and innovative financing to support sustainable and inclusive development initiatives.”

According to Sergio Díaz-Granados, CAF’s Executive President, the decision was made after meetings with Prime Minister Philip Davis and other local authorities, aimed at providing more support for the development of The Bahamas and the entire region.

“As a development partner rooted in the region, we understand the unique challenges faced by small island developing states in the Caribbean and the urgency of addressing the effects of climate change, financial constraints and the need for greater investments in connectivity and resilient infrastructure. We are willing, as we have done with all of our shareholder countries, to collaborate with the government and other stakeholders to build a sustainable and prosperous future for The Bahamas,” Díaz-Granados stressed.

M.Pino

Source: CAF

(Reference image source: Planet Volumes for Unsplash+)

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