El Salvador becomes a full member of the Development Bank of Latin America CAF

On Wednesday, July 13, the Development Bank of Latin America (CAF) reported that the agreement that formalizes the Republic of El Salvador as a full member of the Latin American financial institution entered into force.

With this incorporation, El Salvador becomes the 20th country to join this institution and consolidates the multilateral strategy in terms of regional integration and sustainable development.

“It fills us with joy to announce that the country is now formally a full member of this family united by the same goal: the development of our region,” CAF posted on Twitter to celebrate the country’s incorporation.

During the process, the Minister of Finance, Alejandro Zelaya, on behalf of the Government of President Nayib Bukele and the people of El Salvador, thanked: “the opportunity they give the people to continue directing the development policies promoted by the Bukele administration. After 61 years, El Salvador joins a new multilateral bank”, he highlighted.

“Step by step,” wrote the Salvadoran president to celebrate the news of full incorporation into the multilateral. From now on, the country will have access to a range of benefits and services such as the financing of strategic projects and technical assistance in its social, economic, and green agenda.

In a meeting with the member countries that took place in Paraguay last March, the Andean financial institution strengthened its equity capital by $7,000 million.