Sergio Díaz-Granados is elected CAF's new Executive President

The Board of Directors of CAF (Development Bank of Latin America), made up of the Ministers of Economy and Finance, Presidents of Central Banks and senior economic authorities of the shareholder countries, elected Sergio Díaz-Granados as the new Executive President of the institution, in a semi-presential meeting held at the National Palace in Mexico.

Sergio Díaz-Granados, who will take office on September 1, 2021 for a five-year term, is a prominent Colombian lawyer who currently serves as executive director for Colombia at the IDB Group; he has an extensive career in public and private service, both nationally and internationally, with a special emphasis on development and regional integration issues. He has served as Colombia's Minister of Trade, Industry and Tourism, Deputy Minister of Business Development and Chairman of the Boards of Bancóldex and ProColombia. He has also been a member of Congress and chairman of the Economic Affairs Committee of the House of Representatives.

Díaz-Granados is also Dean and Chairman of the Coordinating Committee of the Board of Executive Directors of the IDB. He was part of the merger process of the Inter-American Investment Corporation (IIC/IDB Invest) in 2015. He also supported the approval of the second replenishment of the Multilateral Investment Fund (IDB LAB). As executive director, he chaired the IDB's Policy and Evaluation Committee from 2016 to 2017, and the CII/BID Invest Board Committee from 2018 to 2019.

The president-elect 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).

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.