CAF President & CEO, Enrique Garcia, and AFD Chief Executive Officer, Jean-Michel Severino, signed a Memorandum of Understanding today. The agreement aims to build partnerships to enable both institutions to scale up their actions in favor of sustainable development, regional integration and the protection of global public goods, particularly climate change, biodiversity and pandemics.

Reflecting the shared vision of the Andean Development Corporation and Agence Française de Développement (AFD) in favor of both institutions’ interest in working for the sustainable development of the countries of Latin America and the Caribbean where both are present, CAF President & CEO Enrique Garcia, and AFD Chief Executive Officer Jean-Michel Severino today signed a Memorandum of Understanding. The ceremony took place during the visit by Mr. Garcia to France.

The agreement creates a strategic alliance in favor of development and aims to implement complementary or joint actions to promote regional integration and the protection of global public goods, particularly climate change, biodiversity and pandemics.

The Memorandum establishes the following areas of cooperation: inter-institutional actions through exchanges of information to harmonize operations, missions and studies in the countries where they conduct similar actions; complementary actions in priority areas, particularly in terms of energy issues, combating climate change, environmental preservation, and innovative sources of development finance; support for the private sector through joint or parallel financing in order to develop the sector and coordinated actions on communication.

Under the agreements the two institutions will strengthen their actions in favor of sustainable development in Latin America and the Caribbean, which is especially relevant in the current state of the world economy.

AFD is a development finance institution which plays a central role in France’s official development assistance. Its mandate is to reduce poverty, finance economic growth and protect global public goods in developing countries. Thanks to its network AFD is present in Africa, Asia, the Mediterranean Basin, the Middle East, Eastern Europe and France’s Overseas Territories and Departments. It is also active in Barbados, Belize, Guyana, Haiti, Jamaica, Dominican Republic, Surinam, and Trinidad and Tobago and in recent years has extended its mandate to Brazil.

Corporación Andina de Fomento (CAF) is a multilateral financial institution with a mission to support sustainable development in its shareholder countries and regional integration. It currently includes 17 Latin American countries from the Caribbean Area and Europe. Its shareholders are: Argentina, Brazil, Bolivia, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, Jamaica, México, Panama, Paraguay, Peru, Spain, Trinidad & Tobago, Uruguay, Venezuela and 15 private banks in the Andean region.
CAF has its headquarters in Caracas (Venezuela) and has agencies in Buenos Aires, La Paz, Brasilia, Bogotá, Quito, Madrid and Lima. www.caf.com

Press contacts

Secretariat and Corporate Communication Department
Tel: 58212-209.2353 / 58212-209.2315 - Fax: 58212-209.2382
E-mail: infocaf@caf.com Caracas – Venezuela

External Relations and Communications Department
Laure Weisgerber
Tel: 33153443057
E-mail : weisgerberl@afd.fr Paris-France