Development Bank of Latin America calls for the strengthening of border integration in LATAM

Development Bank of Latin America calls for the strengthening of border integration in LATAM

GC EFE
GC EFE

Photo: Forbes México


“Integration (...) is essential to improve trade, boost small and medium-sized enterprises and invigorate border cities”. 

The president of the Development Bank of Latin America (CAF), Sergio Díaz-Granados, called for strengthening border integration in the region, a task he considers “fundamental” to improve trade, boost businesses and invigorate border cities, according to a press release issued by the multilateral organization on Wednesday.

“Integration (...) is fundamental to improve trade, boost small and medium-sized enterprises and invigorate border cities. That is one priority we have in CAF and we are inviting all actors to join us to offer comprehensive solutions in infrastructure, regulation (and) trade facilitation,” said Diaz-Granados, according to the press release.

Among the challenges facing the region to improve the quality of life of the population and enhance competitiveness, Díaz-Granados pointed to “productivity, climate change, food security, the gender gap, digital transformation, regional integration, and fulfillment in the Sustainable Development Goals.”

During his participation in the session of political control of the organs and institutions of the Andean Integration System, held by the Andean Parliament in Lima, Peru, he presented a balance of his first year in office, in which he highlighted the “historic” capitalization of US$7 billion approved “unanimously by the board of directors and the shareholders’ meeting”.

“The shareholders’ vote of confidence and new countries will allow the bank to double to meet the needs of Latin America and the Caribbean,” he said.

On September 23, the multilateral reported that the Japan Credit Rating Agency (JCR) raised its credit rating to AA+ from AA, highlighting its contribution to credit lines.

JCR based its rating on the “solid support” provided by its member countries to CAF, as well as the approval of CAF’s allowed capital, from US$10 billion to US$25 billion, the institution stated.


Source: Forbes Staff (2022, September 28). CAF llama a fortalecer la integración fronteriza en Latam. Forbes México. Retrieved September 29, 2022 from https://www.forbes.com.mx/caf-llama-a-fortalecer-la-integracion-fronteriza-en-latam/  

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