The European Investment Bank (EIB) and Development Bank of Latin America (CAF) signed a deal to boost funding for climate and development projects across Latin America and the Caribbean, the banks announced at a meeting with regional finance ministers in Seville, Spain. EIB President Nadia Calviño and CAF President Sergio Díaz-Granados signed the agreement ahead of the Fourth International Conference on Financing for Development. The deal moves the banks from occasional cooperation to a more structured partnership under the EU’s Global Gateway strategy.
The partnership will focus on projects that cut greenhouse gas emissions, build climate resilience, protect biodiversity, and fight environmental damage. Both banks want to strengthen regional value chains and speed up the transition to green, inclusive economies across Latin America and the Caribbean. The agreement also aims to close investment gaps and help the region become more resilient to climate change.
The banks will work together through multiple funding tools, including joint financing, loan guarantees, equity investments, advisory services, and knowledge sharing. They’ll also explore using EU and member state grants through platforms like the Latin America and Caribbean Investment Facility. The deal preserves each bank’s independence while creating a framework for deeper coordination on development projects.
The memorandum comes with a clear roadmap that outlines specific steps for putting the partnership into action and tracking progress. Both institutions want to mobilize major financial resources to tackle key development challenges across the region. The agreement shows their commitment to promoting sustainable growth in Latin America and the Caribbean.
The partnership will be highlighted at the upcoming CELAC-EU summit in Santa Marta, Colombia, as an example of joint commitment to sustainable development and climate action under the Global Gateway framework.
