ARLINGTON, Va. – Last week, the U.S. Trade and Development Agency and CAF – Development Bank of Latin America signed a Memorandum of Understanding (MOU) to collaborate to support the development, financing and implementation of priority infrastructure projects in Latin America and the Caribbean. The MOU will advance activities of mutual economic benefit in the areas of clean energy, transportation, telecommunications and other fields jointly determined.
“We are delighted to formalize our partnership with CAF and believe that there is much that we can accomplish together,” said USTDA Director Leocadia I. Zak. “This MOU signifies our shared commitment to developing priority infrastructure in Latin America and the Caribbean.”
“We are pleased to strengthen ties with the U.S. Trade and Development Agency by signing this agreement of cooperation to promote development and integration initiatives in key sectors within CAF’s comprehensive agenda in Latin America,” stated Enrique Garcia, Executive President and CEO of CAF. “CAF aims to work together with USTDA to identify structural challenges and opportunities in the current regional and global context.”
Under this partnership, USTDA and CAF will leverage each other’s resources and programs. In particular, CAF may recommend projects for USTDA’s project planning and/or partnership building activities, which in turn may be implemented with CAF financing.
This collaboration supports the objectives of the Clean Energy Finance Facility for the Caribbean and Central America (CEFF-CCA), which President Obama announced in April 2015 and under which USTDA and other U.S. government agencies will provide early-stage funding to catalyze greater private and public sector investment in clean energy projects across the region.