El Salvador will become the first country to join the Bank of Development for Latin America (CAF) directly as a full member

On an official visit to President Nayib Bukele, the Executive President Sergio Díaz-Granados reiterated that El Salvador will become the first country to join CAF directly as a full member, which will allow the country to access more resources at competitive rates and technical assistance, among other benefits.

CAF -Development Bank for Latin America- will be a strategic partner in the economic and social reactivation of El Salvador in the short term, and in promoting sustainable development and regional integration in the medium and long term, as stated by Sergio Díaz-Granados and Corporate Vice President of Strategic Programming, Christian Asinelli, to President Nayib Bukele and Minister Alejandro Zelaya.

«We are very grateful for the trust and interest that President Bukele has placed in CAF to contribute with our experience in financing strategic projects in road infrastructure, energy, water and sanitation, education, and cities, among others, with technical assistance to ensure their quality and the generation of knowledge to share best practices, among other benefits» — Sergio Díaz-Granados said.

El Salvador is in the final part of the process of becoming CAF’s 20th member country, pending the approval of the General Assembly of Shareholders, which will meet on March 8 in Asunción, Paraguay. It should be noted that El Salvador will be the first country to join CAF directly as a member country, without previously going through the «C» Series, which represents a sign of the confidence that the countries of the region place in the capacity of the institution to accompany them both in the necessary economic reactivation process after the pandemic and in long-term development.