CAF to use $7 billion capitalization for recovery, renewables in Latin America

CAF, the Development Bank of Latin America, will use $7 billion in planned equity capitalization to back economic recovery and renewable energy development in the region. CAF president Sergio Diaz-Granados says he wants CAF to be the green bank of the region, stating, “the bank is not just for sustainable reactivation, but is thinking of carbon neutrality.” Diaz-Granados said in the next five years the bank will direct $25 billion to increase efforts in climate resilience and reducing emissions, including increasing funding for electric transportation projects, and strengthening biodiversity and conservation.

 

Source: Reuters