The announcement of the Development Bank of Latin America and the Caribbean marks another important step in the global effort to fight hunger and poverty, a priority of Brasil's presidency at the G20. The commitment reinforces international collaboration to address food and economic crises, aligning sustainable financial strategies in Latin American and Caribbean countries.
On November 17th, the International Day for the Eradication of Poverty, CAF (Development Bank of Latin America and the Caribbean) officially joined the Global Alliance Against Hunger and Poverty, an initiative proposed by Brasil at the G20. The announcement was made by Sergio Díaz-Granados, executive president of CAF, who participated virtually in the event "Reimagining Poverty Solutions," organized in New York in partnership with the United Nations Development Programme (UNDP). Wellington Dias, the Brazilian Minister of Social Development and Assistance, Family, and Fight Against Hunger, also attended the online meeting.
With this adhesion, CAF becomes the first multilateral financial institution to join the Global Alliance, committing to strengthen the allocation and management of financial resources to initiatives aimed at fighting hunger and poverty. Through Alliance-facilitated cooperation, the bank will support member countries in implementing effective programs aligned with sustainable financing strategies. These actions will have a direct impact on improving public policies focused on food security, sustainable rural development, and tackling malnutrition, especially in vulnerable regions of Latin America and the Caribbean.
"CAF is ready to act as a regional voice for the Global Alliance, advocating for innovative solutions from Latin America and the Caribbean to address the global challenges of hunger and poverty. We are committed to collaborating closely with the governments of the member countries, including Brasil, to ensure that these initiatives generate a positive impact and are aligned with the strategic priorities of each nation," said Díaz-Granados.
"CAF is ready to act as a regional voice for the Global Alliance, advocating for innovative solutions from Latin America and the Caribbean to address the global challenges of hunger and poverty. We are committed to collaborating closely with the governments of the member countries, including Brasil, to ensure that these initiatives generate a positive impact and are aligned with the strategic priorities of each nation," said Díaz-Granados.
In recent years, CAF has allocated approximately 1.6 billion dollars to initiatives that directly contribute to reducing hunger and poverty, focusing on critical areas such as social protection, food security, rural development, and sustainable infrastructure. The institution has also expanded investments in projects that promote climate-resilient agriculture and economic inclusion of vulnerable communities.
Minister Wellington Dias celebrated CAF's adhesion, reinforcing the institution's fundamental role in the Global Alliance's success. "CAF supported the creation of the Alliance from the beginning. We are honored by its membership as a founding member, and we are confident that this partnership will be fundamental to the initiative's success. The Alliance aims to expand the implementation of good national programs on a large scale to eradicate hunger and poverty worldwide. I am confident that if we walk together, we will be closer and closer to achieving these goals," he said.
CAF's adhesion document to the Global Alliance highlights the urgency of addressing hunger and poverty, which persist on a global scale and require integrated and sustainable approaches. The mission of the Global Alliance, which extends to 2030, will be to support and accelerate efforts to eradicate these problems (SDG 1 and SDG 2) while promoting the reduction of inequalities and strengthening global partnerships for sustainable development. The Alliance is open to governments, international organizations, financial institutions, development banks, and philanthropic foundations.
Dias concluded by reaffirming the importance of this international cooperation: "The Global Alliance Against Hunger and Poverty will be one of the greatest legacies of Brasil's G20 presidency. With the adhesion of CAF and other international partners, we are aligning efforts and mobilizing resources to implement effective public policies that can transform the reality of millions of people around the world."
The CAF, created in 1970, has a long history of operating in sustainable development and regional integration projects, financing public and private sectors in 21 countries. By joining the Global Alliance, the bank reinforces its commitment to fighting hunger and poverty by offering financial support, knowledge, and technical assistance to overcome these structural challenges.
