CAF's president retires from his post, giving way to a new administration
Next April, Luis Carranza Ugarte, executive president of CAF, Development Bank of Latin America, will finish his term of office. It will be almost a year ahead of schedule, but he will leave a strengthened institution thanks to a structure that corresponds to the reality of CAF's size, objectives and responsibilities.
These four years of management close a cycle that represents a turning point in itself, given that Carranza's objective was to preserve CAF's institutional framework, increase its efficiency and respond to the challenges faced by our countries.
The incorporation of Mexico and Costa Rica as full members of CAF, the virtual training programme, initiated in 2017 and today strengthened, or a 28% growth in the consolidated portfolio, are some of the milestones achieved by the current administration, with the support of the Board of Directors and all its collaborators.
However, when we talk about development, we talk about people. That is where CAF's focus lies, that is where the institution's DNA lies. This translates into credits that have been generated to achieve, for example, 3,196,870 people benefited by a new or improved drinking water and/or sewerage connection, 163,164 M2 of educational infrastructure built or rehabilitated, 99,680 students benefited by education projects, 5,563 kilometres of roads built, improved or rehabilitated, among many others.
"A restructuring of the organisation was carried out that has allowed us to achieve these goals and objectives. From the creation of new areas, such as the Vice-Presidency of Risks, to the implementation of an austerity plan, which allowed us to reduce travel expenses by 40%. We were committed to the digital transformation of the organisation and more efficient operational management, establishing strategic goals with measurable indicators. All of this was done to achieve our objective: that resources are where they are most needed, supporting the development of Latin America and reaching the people," says Carranza Ugarte.
Likewise, during the pandemic, CAF acted quickly and effectively with record approvals of more than USD 14 billion, mainly to support countries in their efforts to address this difficult situation.
CAF is one of the few success stories of regional integration in Latin America, a success that has been achieved because its member countries have supported the strengthening of the institution's equity and maintained its institutional independence, which is key from the perspective of the current administration. While Carranza says the "decision has not been easy", he believes it is time to step aside, "allowing the organisation to continue its work independently, preserving its institutionality away from politicisation".