Saint Lucia is about to grow to be the latest shareholder of CAF – Growth Financial institution of Latin America and the Caribbean, following the Board of Administrators’ approval of the island nation’s incorporation. The transfer alerts a deepening of CAF’s engagement with the English-speaking Caribbean and strengthens its assist for member states of the Organisation of Japanese Caribbean States (OECS).
As soon as the formal course of is full, Saint Lucia will be a part of as a Collection “C” shareholder, getting access to a variety of CAF’s monetary, technical, and knowledge-based providers. These assets are designed to advance growth priorities and enhance high quality of life via agile, versatile financing for local weather motion, resilient infrastructure, and sustainable growth initiatives.
“We’re heartened by Saint Lucia’s resolution to affix CAF. This represents a robust vote of confidence in our renewed agenda for sustainable, inclusive development,” stated Sergio Díaz-Granados, Government President of CAF. “We’re honoured by the belief positioned in us by the Authorities of Saint Lucia, and we stay up for working carefully with the nation to advance resilience constructing, local weather motion, and regional integration.”
Saint Lucia’s incorporation is a part of CAF’s broader technique to strengthen its presence within the Caribbean. In 2022, CAF established its Regional Workplace for the Caribbean in Trinidad and Tobago, laying the groundwork for extra focused growth help in areas resembling water, power and meals safety, sustainable tourism, digital transformation, and infrastructure modernization.
CAF has additionally accepted a USD 50 million Caribbean facility geared toward pre-investment and growth initiatives throughout essential sectors. The funding will assist local weather adaptation efforts and bolster institutional capability in small island growing states (SIDS), which stay significantly weak to the impacts of local weather change.
With Saint Lucia onboard, CAF turns into the event financial institution with the widest footprint in Latin America and the Caribbean, underscoring its ongoing dedication to sustainable and inclusive growth all through the area.
