Abu Dhabi Fund for Development (ADFD) has entered into a partnership with CAF – Development Bank of Latin America and the Caribbean.
This landmark agreement aims to strengthen collaboration to promote sustainable economic growth and reduce inequalities in Latin America.
The agreement establishes a framework for joint initiatives in project co-financing, investment, and information exchange, during the Annual Meetings of the International Monetary Fund and the World Bank Group, which took place in Washington.
The collaboration covers a wide range of activities such as co-financing or parallel financing of projects, as well as joint investments and initiatives. Additionally, the organizations will collaborate on project development and evaluate projects for potential financing, thus promoting synergy in identifying and preparing investment opportunities.
Through the exchange of information on projects and initiatives, both entities will benefit from mutual knowledge and experience. The agreement also leaves room for exploring other mutually agreed forms of cooperation, providing flexibility to adapt to future requirements and opportunities.
Mohamed Saif Al Suwaidi, ADFD Director-General, highlighted that the partnership falls in line with the vision and mission of both organizations to foster sustainable development and economic inclusion in Latin America.
Al Suwaidi added that, “We are committed to advancing SDGs through climate action, infrastructure development, and social well-being. ADFD is dedicated to fostering innovation and investment in key sectors that will drive economic growth and empower local communities. Together, we believe that collaboration can lead to sustainable outcomes that truly transform lives.”
Sergio Díaz-Granados Executive President – CAF
“This Agreement with ADFD marks a significant step in our mission to drive sustainable development in Latin America. By combining our expertise and resources, we can amplify our impact and create more opportunities for growth and reduction of inequalities in the region. We look forward to a fruitful partnership that will benefit our member countries and their communities.”
The agreement highlights both organizations’ commitment to enhancing economic development and improving living standards in developing countries. CAF, as a multilateral financial institution, brings its vast experience in Latin America, while ADFD contributes its expertise in delivering concessionary financial resources to developing nations worldwide.
This collaboration is set to elevate the capacity of both institutions to support critical infrastructure, social development, and economic growth projects in CAF’s shareholder countries.
