Spain will formalize its participation of 273 million euros in CAF's capital increase this Thursday

MADRID, 13 Sep. (EUROPA PRESS) -

Spain will make official this Thursday the subscription of shares in the capital increase of the Development Bank of Latin America (CAF) for a value of 302 million dollars (273 million euros) to reinforce its commitment to the development of Latin America and the Caribbean .

Within the framework of the first meeting of Ministers of Economy and Finance of the European Union and Celac, the First Vice President and Acting Minister of Economic Affairs and Digital Transformation, Nadia Calviño, will star in a parallel event in which she will sign an agreement for the that Spain will make this subscription of shares official in the capital increase in CAF.

This action will mean strengthening the bank's financial capacity, which will allow it to promote development projects in the region. In turn, Spain will renew its commitment to Latin America and the Caribbean to promote sustainable growth from a sustainable, environmental and social point of view and support the internationalization of Spanish companies.

Last year the twentieth anniversary of Spain's incorporation into the CAF was celebrated. The agreement will help channel new financial resources to the region. It will also serve to increase cooperation in different areas such as energy transition, sustainability, digitalization and the fight against climate change.

CAF will hold its Board of Directors in Santiago, the bank's governing body, in which 20 American and Caribbean countries, in addition to Spain and Portugal, and 13 private banks in the region are represented.