The Minister of Planning, Development and Management, Dyogo Oliveira, assumed the presidency of the Executive Board of the Development Bank of Latin America (CAF) for a one-year term. This is the first time Brazil occupies the top position of the bank’s Executive Board.

The CAF’s mission is to boost regional development and integration by financing projects in the public and private sectors. Seventeen Latin American and Caribbean countries are partners of the Bank (which also includes Spain and Portugal), as well as thirteen private banks.

The inauguration took place last March during the bank’s annual meeting in Panama City. The meeting also approved the bank’s financial statement for the 2017 fiscal year, during which it invested US$ 12.2 billion in programmes and projects (US$ 1.5 billion of which were allocated to initiatives in Brazil).

Source: www.brazilgovnews.gov.br