CARIBBEAN- IDB and CAF to work together in key priority areas

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PUNTA CANA, Dominican Republic, CMC – The Inter-American Development Bank (IDB), IDB Invest, and the Development Bank of Latin America (CAF) have signed an agreement to leverage joint efforts in critical areas in Latin America and the Caribbean (LAC).

The two financial institutions said the cooperation would include co-financing infrastructure projects, citizen security and justice, knowledge dissemination, and collaboration, particularly in the sustainable management of plastics.

Specifically, the IDB and CAF will identify physical and digital infrastructure projects through joint or parallel financing efforts for regional integration. Additionally, the institutions will collaborate on citizen security and justice initiatives, establishing dialogue platforms and sharing best practices to enhance institutional and community resilience against crime and violence in Latin America and the Caribbean.

The IDB and CAF said they will engage in knowledge co-creation by conducting studies in mutual interest to influence public policies. They will disseminate findings through seminars, workshops, and events to enhance the institutions’ visibility in the region and globally.

“As development institutions, our focus should be on working together to enhance the scale and impact of our actions. This new agreement strategically focuses on key priority sectors, developing joint action plans to drive inclusive and sustainable development in Latin America and the Caribbean,” said IDB President Ilan Goldfajn.

CAF executive president Sergio Díaz-Granados said, “Only under a collaborative approach overcome the significant gaps that Latin America and the Caribbean face about other regions.

“The agreement set forth between the IDB and CAF highlights the benefits of a cohesive, coordinated, and united region in preparation for the challenges in the years to come, including infrastructure, integration, climate change, citizen security, and digitalization,” he added.

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