CAF approved more than USD 14 billion in 2022 to boost the development of Latin America and the Caribbean

Throughout 2022, CAF approved a total of USD 14,094 million to finance development initiatives in Latin American and Caribbean countries. These funds were earmarked to stimulate economic reactivation and the productive and financial sector, and focused, among others, on energy, transport and telecommunications infrastructure, water and sanitation, environment and climate change, education and digitalisation. In line with the institution's approach, the 2022 approvals will directly contribute to several of the Sustainable Development Goals.

In 2022, CAF's Assembly approved the largest capitalisation in the institution's history, for USD 7 billion, which will allow it to double its portfolio by 2030. The new resources will support economic reactivation in shareholder countries, and will contribute to consolidate the multilateral organisation as the green bank of Latin America and the Caribbean. The equity strengthening will focus on making CAF the green bank of Latin America and the Caribbean; promoting a just energy transition for the countries of the region; supporting subnational governments; fostering regional integration; and strengthening the role of the private sector.

During the year, El Salvador, Chile and Costa Rica became full members of CAF, which will give them access to new financial tools and instruments, technical assistance and knowledge generation for both the public and private sectors in favour of the population, sustainable development and regional integration. In addition, the creation of a CAF management office for the Caribbean will facilitate greater Caribbean integration and provide agile and effective support for the region's economic recovery.

The case of Chile is particularly illustrative of CAF's growing importance in the continent. The Andean country, one of CAF's original founders, rejoined the organisation as a full member and, after 45 years, will once again have access to financing lines and a voice and vote in the organisation's decisions. 

"The reincorporation of Chile as a full member is great news for the strengthening of CAF and its consolidation as a key actor for Latin American development and integration. We are proud to work together with the Chilean government to boost the economic and sustainable growth of the country and the entire region," said Sergio Díaz-Granados, CAF's Executive President.

Regarding the environmental proposal, CAF announced that it will invest USD 1.25 billion to preserve the health of the oceans. In addition, it continued to work on the main lines of action to become the green bank of Latin America and support the countries of the region in their commitments to environmental conservation, preservation of natural ecosystems and energy transition. In total, over the next five years CAF will mobilise USD 25 billion to foster green growth in the region. This means that CAF's green portfolio will increase from 24% in 2020 to 40% in 2026.  

Another of the most important initiatives in 2022 was the creation of the Biodiverciudades Network, which is helping to make biodiversity conservation a central part of the planning, land use and socioeconomic development of Latin American and Caribbean cities. By the end of 2022, the initiative had been signed by more than 100 mayors from cities across the region.

With the idea of raising the region's voice, 2022 saw the birth of América Futura, an initiative led by El País and CAF that makes visible the global solutions originating in the region, those Latin American faces, ideas, achievements and projects with great potential to contribute to social and environmental sustainability.

In 2022, CAF also deepened its role as a spokesperson for Latin America and the Caribbean in other regions through synergies with strategic allies such as the United States, Europe, China and the Middle East, and contributed to the region's integration in global decision-making forums. In this regard, the voice of Latin America and the Caribbean was brought to the Summit of the Americas, COP27, the Oceans Summit, the UN Assembly and the World Urban Forum, among others. 

In 2022 CAF also announced that in 2023 it will organise, on the occasion of the Spanish Presidency of the Council of the European Union (EU), a meeting between the 60 Ministers of Economy and Finance of the EU and Latin America and the Caribbean, with the aim of aligning interests, synchronising development agendas, strengthening geopolitical ties and boosting trade relations between Europe and Latin America and the Caribbean.

In terms of knowledge production, in 2022 CAF published 112 studies that helped generate lines of analysis that promote the construction of fairer and more sustainable societies. Among them is RED2022, entitled "Inherited Inequalities", which states that although many people in the region today surpass their parents in terms of education, progress is not equal in terms of employment or income. It is a phenomenon rooted in the "lottery of the cradle", with factors such as place of birth, household characteristics, gender and ethnicity acting as either a drag or an enabler in life.

In 2022, it was also announced that the CAF Marathon, also known as the Latin American and Caribbean Integration Marathon, will return to Caracas and will be run on Sunday 19 March 2023. The seventh edition of the main 42 kilometre competition in Venezuela will maintain its traditional route and the quality standards that characterise it; it will offer 3,000 places for the 42Km and 5,000 places for the 21Km.