CAF sets priority on promoting economic and social reactivation in Latin America
The Colombian Sergio Díaz-Granados assumed the Executive Presidency of CAF - Development Bank of Latin America. In a protocol ceremony held at the bank's headquarters in Caracas, Venezuela, with the participation of the Executive Vice President of the Bolivarian Republic of Venezuela, Delcy Rodríguez; the Venezuelan Minister of Foreign Affairs, Félix Plasencia; as well as senior authorities, the diplomatic corps and officials of the institution, Díaz-Granados announced that his priority in the next 100 days of his term will be to promote the economic and social reactivation of Latin Americans.
"We have the challenge of the health crisis, economic reactivation and making up for the lost time of our generation in education. These years have been critical for 50% of young people in Latin America, and if we do not correct this soon, we will be condemning them for the rest of their lives. We have a great opportunity to strengthen our regional value chains and make trade a source of income and employment. Finally, another challenge is digital transformation; the growth that is coming has to be sustainable and based on digital transformation," said Sergio Díaz-Granados.
The Venezuelan authorities ratified their support for CAF and the management of the new executive president, and highlighted the relevance of the institution in the financing of infrastructure, energy, water and sanitation projects, as well as its role in promoting regional integration. They also stressed the importance of international cooperation, the opportunities for deepening relations and working together for the benefit of the most vulnerable.
The regional development agenda set by Díaz-Granados also includes working to turn CAF into the green bank of Latin America, fulfilling the catalytic role of attracting investment to the region through the promotion of sustainable growth and the circular economy, with greater financing for projects in environmental, forestry, water, climate, waste management, energy efficiency, and sustainable agriculture issues, among others.
Another strategic axis will be to deepen support to the private sector to increase productivity and employment generation, along with cross-cutting policies on gender equality, inclusion and diversity. In addition, integration projects will be promoted, especially cross-border trade, logistics corridors, energy efficiency projects and the digital agenda, as well as pre-investment funds for studies and projects.
Sergio Díaz-Granados is a lawyer and specialist in government and finance from the Universidad Externado de Colombia, with postgraduate studies in Public Management for Social Development at INAP (Spain). He completed advanced studies in Constitutional Law at the University of Salamanca (Spain). He was Minister of Trade, Industry and Tourism of Colombia, Vice-Minister of Business Development and Chairman of the Boards of Bancoldex and PROCOLOMBIA. He was a congressman and president of the Economic Affairs Committee of the House of Representatives. Before joining CAF, he was Executive Director for Colombia at the IDB Group.
CAF is a leading institution in Latin America and one of the main sources of multilateral financing for the region, with annual approvals exceeding $14 billion for development and regional integration. Since the beginning of its operations in 1970, the institution has approved more than 200 billion dollars to improve the quality of life of Latin Americans. CAF has also established itself as an important think tank with a global vision and a nexus between Latin America and the rest of the world.