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CAF and UNDP strengthening partnership to promote technical support and financing for sustainable development in Latin America and the Caribbean

CAF -Development Bank of Latin America and the Caribbean- and the United Nations Development Program (UNDP), signed a framework agreement that will allow both institutions to collaborate in a more agile way in the generation of knowledge, the provision of technical assistance and financing instruments to provide comprehensive solutions with local impact in line with the national development priorities of the countries in the region.

This partnership reflects a unique combination of capabilities and experiences in which six decades of extensive UNDP presence in the region reinforce CAF's vision and reach as the development bank of Latin America and the Caribbean. Both organizations are firmly committed to being agents of change, progress, and well-being for Latin American and Caribbean societies, recognizing the importance of dialogue, participation, and building consensus between different sectors of society.

“We continue to strengthen our cooperation with the UNDP to offer more efficient solutions that allow us to provide a faster and more comprehensive response, taking advantage of the capabilities and experience of each institution serving the communities. 2030 is getting closer and closer, and the margin of action to promote compliance with the SDGs is becoming shorter, which is why we have strengthened our alliance with the UNDP to accelerate the pace and ensure that no one is left behind,” said Sergio. Díaz-Granados, executive president of CAF.

For her part, Michelle Muschett, assistant administrator and regional director of the UNDP for Latin America and the Caribbean, added “As UNDP we recognize the importance of alliances to advance our mandate to reduce poverty, promote sustainable development and strengthen democratic governance through the speed and scale that today's challenges demand. Through this agreement with CAF, we take our partnership to another level, which will allow us to accompany national and local development priorities more quickly without leaving anyone behind.”

The signed agreement adds to the Memorandum of Understanding signed in 2006 and reinforced in 2022, which promotes the exchange of knowledge and support for projects in the areas of democratic governance, including public sector reforms; digitalization and capacity development initiatives; climate action, including disaster risk reduction and green financing efforts; bonds linked to sustainability, and the promotion of gender equality among others.