Building a development pipeline in Latin America
more effective and efficient implement- ation. It is another important milestone in our longstanding partnership with CAF.” Sergio Díaz-Granados, CAF Executive President, added: “CAF is developing an ambitious agenda of alliances by bringing together international actors to accelerate the exchange of knowledge and ensure that the LAC region can actively offer solutions to major global challenges. The 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 in the countries of the region.” The agreement builds on a co- operation framework signed in 2021, when the OPEC Fund and CAF committed to enhance strategic and operational cooperation and co-finance public and private sector projects that contribute to sustainable economic
T he OPEC Fund for International Development is providing a US$1 million grant to CAF-Development Bank of Latin America in support of a technical assistance facility to improve project preparation in countries of common operations in the Latin America and Caribbean (LAC) region. The new facility will support the development of a pipeline of bankable investment projects in priority sectors for the OPEC Fund and CAF and support the strengthening of institutions, sector policies, strategies and programs. OPEC Fund Director-General Dr. Abdulhamid Alkhalifa said: “This initiative will support our partner countries in the LAC region by ensuring improved readiness of investment projects and facilitating US$1 million will support a technical assistance facility benefitting multiple sectors
This... is another important milestone in our longstanding partnership with CAF.
Dr. Abdulhamid Alkhalifa, OPEC Fund Director-General
development in the LAC region. Based on the agreement, the OPEC Fund plans to provide financing of up to US$600
million for public sector projects in partnership with CAF until 2024.
PHOTO (left): Ruslana lurchenko /Shutterstock.com
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PHOTO: Light and Vision/ Shutterstock.com
PHOTO: Jihan Nafiaa Zahri/Shutterstock.com
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