Tuesday, September 26, 2023

CAF will increase “green” financing to 40% in four years

The Development Bank of Latin America, CAF, promised this Tuesday that 40% of all its financing will go to sustainable projects with the aim of contributing to achieving the sustainable development goals of the 2030 Agenda.

In an event organized in New York in the framework of the 77th United Nations General Assembly, in which CAF has been a permanent observer for 10 years, experts, leaders, experts and Nobel Prize winners reviewed for two days the challenges for a Latin America more united and equitable.

“Our goal is to go from 21% (of financing) last year to 40% in the next four years, in terms of climate change, mitigation of its effects, disaster forecasting and making the necessary infrastructure to be resistant to what that comes from now on”, expressed Sergio Díaz-Granados, president of the bank.

“CAF’s role as a source of financing for the sustainable development goals in the transition to a greener economy and its efforts so that the Latin American region can combat poverty and inequality more effectively is very important,” he said. Juan Manuel Santos, former president of Colombia.

Sergio Díaz-Granados’ wish for 2030 is for the Development Bank of Latin America to double in size and to be “more present and to be a solution to the problems of Latin America and the Caribbean.”

“I would like the bank to have even greater geographic coverage by that date, and have the capacity to carry out programs on borders between countries,” he remarked.

Another of the topics addressed at the two-day event in New York was the importance of the coffee sector in Latin America and the Caribbean or the importance of investing in sports for the inclusion of people in society.

“Since the pandemic began, mental health problems have increased by more than 200% and sport can significantly help reduce that number,” said Philipp Muller-Wirth, head of UNESCO’s sports section.


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