CAF - Development Bank of Latin America and the Caribbean

CAF - Development Bank of Latin America and the Caribbean, formerly Corporación Andina de Fomento, is a development bank whose mission is to promote sustainable development and regional integration in Latin America and the Caribbean, through the financing of public and private sector projects, the provision of technical cooperation and other specialized services.

Created on February 7, 1968, it began operating in June 1970. Currently made up of 21 countries in Latin America, the Caribbean, Europe and 13 private banks, it is one of the main sources of multilateral financing and an important knowledge generator for the region.

CAF is a multilateral financial institution whose mission is to support the sustainable development of its shareholder countries and regional integration. It serves the public and private sectors, providing multiple financial products and services to a broad client portfolio, made up of the governments of the shareholder States, financial institutions and public and private companies.

Its main activities are: acting as a financial intermediary, mobilizing resources from industrialized countries to the region, financing the development of productive infrastructure, promoting development, promoting trade and investments and supporting the business sector.

CAF has its main headquarters in Caracas, it has offices in Asunción, Bogotá, Brasilia, Buenos Aires, La Paz, Lima, Mexico City, Madrid, Montevideo, Panama, Port of Spain, Quito, San Salvador, Santiago de Chile, Santo Domingo and São Paulo.

History

The initiative that would give rise to CAF began to take shape in 1966, after the signing of the Bogotá Declaration by the presidents of Colombia, Chile, Venezuela, and the personal representatives of the first leaders of Ecuador and Peru, according to which An immediate action program was approved for the Andean countries and Chile, which contemplated the application of economic integration measures and the coordination of the policies of the participating countries in commercial, industrial, financial matters and technical cooperation services. A Joint Commission was appointed to carry out these functions and the creation of a development corporation was proposed. The Andean Development Corporation (CAF).

During 1967, the Joint Commission clearly outlined the foundations of CAF. On February 7, 1968, the governments of the member countries signed their Constitutive Agreement at the San Carlos Palace in Bogotá, conceiving the entity as a multiple bank and agency for the promotion of development and Andean integration. Two years later, on June 8, 1970, CAF formally began operations, establishing its headquarters in Caracas, Venezuela.

The Cartagena Agreement, approved in May 1969 - one year after the Constitutive Agreement of CAF -, established the political framework of the Andean subregional group and proposed the adoption of a joint model of economic, social and commercial development between countries that They presented similar characteristics and sought to obtain the benefits that, in the regional integration scheme of the time (ALALC), were generally reserved for the largest nations. To this end, it incorporated instruments related to the adoption of common strategies for industrial, energy, and agricultural development, as well as research and technological transfer, capital investment, construction of physical infrastructure and human trafficking, among others.

Bolivia and Ecuador were the first two countries that, in 1971, received loans from CAF for the execution of projects related to the installation of a rice storage network (US$ 1.3 million) and the construction of a complex fishing for the capture and freezing of tropical tuna (US$ 0.5 million). However, the first loan that materialized the integrationist vocation of the Organization was made a year later, and was granted to a Venezuelan project (US$ 3 million). The objective of this project was the construction of a bridge over the Limón River, in the State of Zulia, with the purpose of facilitating road connections with Colombia.

The decision to open its share capital to other partners from Latin America and the Caribbean, at the beginning of the nineties, was a relevant fact that allowed CAF to expand, beyond the Andean borders, both the integrationist vocation as its operational base.

With the incorporation of Portugal there are now 18 shareholder countries of this institution. The formalization of the incorporation of that country, through the subscription of €15 million to the ordinary capital of the institution and €60 million to the guarantee capital, was carried out within the framework of the XIX Ibero-American Summit of Heads of State and Government, in Estoril. Currently, in addition to four countries of the Andean Community, its shareholders include: Argentina, Barbados, Bolivia, Brazil, Chile, Colombia, Costa Rica, Ecuador, Spain, Jamaica, Mexico, Panama, Paraguay, Peru, Portugal, Dominican Republic, Trinidad and Tobago, Uruguay, Venezuela, and 15 private banks in the region.

On March 8, 2022, El Salvador joins as partner number 20 and the first as a full member. Honduras in turn follows this example and on July 18, 2022 officially joins, becoming partner number 21.

Executive Presidents

Throughout its history, CAF has had 7 executive presidents:

Dates	Name	Nationality
1970-1976	Adolfo Linares Arraya	Bolivia
1976-1981	July Sajinés Goytia	Bolivia
1981-1986	José Corsino Cárdenas	Ecuador
1986-1991	Galo Montaño Pérez	Ecuador
1991-2017	Luis Enrique García Rodríguez	Bolivia
2017-2021	Luis Carranza Ugarte	Peru
2021-current	Sergio Díaz-Granados	Colombia

CAF Marathon

It has been taking place in the city of Caracas, starting in Los Caobos park

• 1.♪ CAF Marathon (20 February 2011), 3694 registered corridors, 20 participating countries.
• 2.o CAF Marathon (26 February 2012), 5800 registered corridors, 36 participating countries.
• 3.♪ Marathon CAF (24 February 2013), 8100 registered corridors.
• 4.o CAF Marathon (23 February 2014), SUSPENDED.
• 4.o CAF Marathon (26 April 2015), 42K Marathon: 3,325 registered corridors; Half marathon: 7,372 registered corridors.
• 5.o CAF Marathon (24 April 2016), 42K Marathon: 4,300 registered corridors; Half marathon: 6,380 registered corridors, for a total of 10,680 registered corridors from 36 countries.
• 6.to CAF Marathon (26 March 2017), 42K Marathon: 4,500 registered corridors; Media Marathon 21K 6,800 registered corridors, a total of 11,281 corridors, 11 registered countries
• 7.mo CAF Marathon (19 March 2023), 42K Marathon: 1,704 registered corridors; Media Marathon 21K: 3,310 registered corridors, 20 registered countries