Audit of biodiverse corridors
Introduction
The Development Bank of Latin America and the Caribbean (CAF), formerly known as the Andean Development Corporation, is a multilateral financial institution founded on February 7, 1968 with the objective of promoting sustainable development and regional integration in Latin America and the Caribbean. Composed of 20 countries from Latin America and the Caribbean, plus Spain and Portugal and 14 private banks in the region. CAF finances high-impact projects in strategic sectors such as infrastructure, sustainability, social inclusion, governance and climate action.[1][2][3].
Throughout its history, CAF has evolved to consolidate itself as a regional leader in green financing, standing out in global forums and promoting integrationist initiatives. In 2023, the institution officially adopted the name "Development Bank of Latin America and the Caribbean", reflecting its expansion process and its commitment to the challenges of the global context. Likewise, its strategy has included strengthening alliances with governments and international organizations to finance high value-added projects that contribute to sustainable development and the reduction of inequalities in the region.[1][2][4][3].
With headquarters in Caracas, Venezuela, and offices in various cities in Latin America and Europe, CAF is recognized as one of the main sources of multilateral financing in the region and a key actor in generating knowledge and promoting initiatives to confront climate change and promote social inclusion.[5][3].
History
CAF - Andean Development Corporation - Development Bank of Latin America and the Caribbean was founded with that name on February 7, 1968 in Bogotá, Colombia, by the governments of the 6 Andean countries: Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela. In 1977, Chile, which was under the dictatorship of General Pinochet, withdrew from the CAF bank.
On June 6, 2010, the CAF bank officially adopted the logo: “Development Bank of Latin America”, and it was used from the 2011 Annual Report. In those years 2010 and 2011, five non-Andean countries joined as full members, series "A" shareholders: Brazil, Uruguay, Panama, Argentina, Paraguay, in addition to 14 private banks from the Andean region.[3].
In 2016, Trinidad and Tobago was the first Caribbean and English-speaking country to go from "C" shareholder to series "A" shareholder, thus being the eleventh series "A" country. Jamaica was already a series "C" shareholder since 1999, and Barbados since 2015.