The International Organization for Migration (IOM) and CAF - Development Bank of Latin America and the Caribbean have today signed a technical cooperation agreement to address migration challenges in the region while tapping into the potential of migrants to drive sustainable and inclusive development.
"This agreement underscores a fundamental truth: migrants are agents of change and development," said Amy Pope, IOM Director General. "Migrants bring skills, innovation, and unique perspectives that are essential for building resilient economies and vibrant communities. Collaborating with development finance institutions like CAF helps unlock the immense potential of migration to enrich societies around the world."
Signed during the 79th session of the UN General Assembly, this landmark initiative focuses on key aspects of migration management and its developmental impact. It aims to enhance local governments' migration management capabilities, strengthen climate mobility policies and tools, analyze and disseminate information on migration's economic impact in Latin America and the Caribbean, and foster dialogue on migrants' economic integration.
"This strategic alliance between CAF and IOM marks a significant step towards understanding and leveraging migration as a catalyst for development in our region," said Sergio Díaz-Granados, CAF's Executive President. "We are committed to working alongside local governments, civil society organizations, and the private sector to build comprehensive solutions that benefit both migrants and their communities of origin and destination."
This multidimensional and cross-cutting collaboration will enable a comprehensive approach to migration in Latin America and the Caribbean, enhancing the scope of the IOM-CAF partnership to promote sustainable and inclusive development in the region. This technical cooperation builds on a Memorandum of Understanding signed in May 2023 and aligns with the Sustainable Development Goals, the 2030 Agenda, and the Global Compact for Safe, Orderly and Regular Migration.
