Cassa Depositi e Prestiti supports i sustainable projects in Latin America. The operation, decided in the role of Italian financial institution for development cooperation, provides for a credit line of up to 100 million euros to the Corporación Andina de Fomento (CAF), one of the main multilateral institutions active in Latin America, and is aimed at financing green projects in the energy, transport and social and urban development sectors.
With this first financing agreement between the two institutions, a note from the CDP explains, the joint commitment to the consolidation and development of commercial relations between Italy and Latin America and, more generally, towards the achievement of the Sustainable Development Goals
(SDGs) of the United Nations Agenda 2030. Under the agreement, CDP's intervention will be able to support investments of over 400 million euros in support of sustainable growth processes and initiatives to combat climate change, contributing to the reduction of CO2 emissions in the region.
The partnership with CAF will also allow CDP to accompany the growth of Italian companies in Latin America, through new and potential investment opportunities in those markets. The transaction includes Cassa Depositi e Prestiti in the category of International Financial Institutions partner of CAF, including the European Investment Bank (EIB), Kreditanstalt für Wiederaufbau (KfW), Instituto de Crédito Oficial (ICO), Agence Française de Développement (AFD) and InterAmerican Development Bank (IADB).
“The Sustainable Development Goals of the 2030 Agenda and the increasingly strong relations between Italy and emerging economies require the creation of new strategic partnerships, such as the one signed today with CAF. The loan to the Latin American multilateral development bank confirms CDP's commitment to supporting sustainable projects and projects to combat climate change, creating new outlet markets for the Italian business system around the world”, said Antonella Baldino, Director of the International Development Cooperation of Cassa Depositi e Prestiti.
“We are pleased to strengthen relations with a strategic country for Latin America like Italy and to attract new sources of funding for sustainable projects in the region at a time when they are needed more than ever. In doing so, we fulfill the catalytic role of resource mobilization for the benefit of sustainable development and regional integration,” added Luis Carranza Ugarte, Executive President of CAF.
