Panama City, Panama. February 1, 2024. 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.

About CAF
CAF -development bank of Latin America and the Caribbean- has the mission of promoting sustainable development and regional integration, through the financing of public and private sector projects, the provision of technical cooperation and other specialized services. Established in 1970 and currently made up of 21 countries - 19 from Latin America and the Caribbean, along with Spain and Portugal - and 13 private banks, it is one of the main sources of multilateral financing and an important generator of knowledge for the region. More information at www.caf.com

About UNDP
UNDP is the agency of the United Nations system in the fight to eradicate the injustice of poverty, inequality and climate change. By collaborating with our extensive network of experts and partners in 170 countries, we help countries create consensus, integrated and lasting solutions for people and the planet.

www.undp.org/latinamerica