The president of the Development Bank of Latin America, Sergio Díaz-Granados, wants the entity to do more and more financing in the field of environment
The Executive President of CAF (Development Bank of Latin America), Sergio Díaz-Granados, believes that “there are great opportunities” to promote the energy transition in all Latin American countries where the organization has been active for more than half a year with financing operations. century. The former Colombian trade and industry minister also points out that “there is a big gamble to attract investment flows” to that economic area to promote a change in the sustainable model and solve the environmental problems facing the whole world. is confronted.
Díaz-Granados has recalled that “there can be no climate solution without Latin America”, as of all the countries that make up that area, they have a third of the world’s forests. That is why, during an informative meeting, he wanted to “reaffirm” CAF’s commitment to the energy transition, the environment and biodiversity. The aim is for the bank to “finance more and more” with regard to the environment.
Despite the difficulties arising from the pandemic, and now with the war in Ukraine, the CAF president believes direct investment flows are necessary, even in a context of rising interest rates around the world. “Latin America can better absorb the decline” in available financing from the effect of interest rate hikes if it succeeds in attracting direct investment.
In this sense, Sergio Díaz-Granados believes that “more than a debate about fossil fuels and their use” should be done to an analysis of other concepts of sustainability, such as carbon capture or the necessary electrification of public transport. in all of Europe. Latin America, especially in the major cities of many of its countries.
Spain has just celebrated 20 years as a shareholder of the Development Bank of Latin America CAF, a period in which USD 6,176 million (about EUR 5,795 million) has been awarded to Spanish companies financed by the multilateral organization. In addition to this amount, 38 million dollars has been mobilized in technical cooperation projects; another 700 million in co-financing and loans with Spanish financial institutions; and financing for more than $1,210 million has been secured.
Source: La Verdad
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
