02 | OPERATIONS – OTHER FUNDING
establish a technical assistance facility with each institution contributing an initial US$1 million. The facility will deliver a pipeline of eligible projects in essential infrastructure, including transportation, energy and water & sanitation. Projects identified and designed under the facility will eventually be co-financed by the OPEC Fund and CAF.
and bankable projects. The OPEC Fund will benefit from cooperation with a multilateral financial institution with experience in the area of project development and advisory services. The facility will be jointly managed by the OPEC Fund and CAF, with the Development Bank of Latin America in charge of reviewing technical assistance requests, preparation of technical assistance proposals, procurement, project management and disbursement.
This technical assistance facility agreement with the OPEC Fund will allow us to double our efforts to strengthen the impact and efficiency of our financing in key areas of development across Latin America & the Caribbean. It is part of our strategy to develop a network of alliances with international actors to accelerate knowledge sharing and deepen impact. To tackle global challenges we need global partnerships and we are proud to know the OPEC Fund is on our side on this.
Like the trust fund, the facility will help the OPEC Fund develop strong
SERGIO DIAZ-GRANADOS Executive President, CAF – Development Bank of Latin America
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