ARUBA (ORANJESTAD) – Minister Plenipotentiary Drs. Gracita R. Arrindell, while attending the 21st European Union (EU) Overseas Countries and Territories (OCTs) EU-OCT Forum in Aruba, had the opportunity to meet with the Development Bank of Latin America and the Caribbean (CAF) Regional Manager for the Caribbean Dr. Stacy Richards-Kennedy.
CAF continues to play a vital role in promoting sustainable development and regional integration across Latin America and the Caribbean. As one of the region’s leading multilateral financial institutions, CAF provides financing, technical expertise, and strategic support to both public and private sector projects that contribute to economic growth and social progress.
Minister Plenipotentiary Arrindell said that the meeting was very informative and that Sint Maarten would explore further relations with this financial institution adding, “I do believe Sint Maarten as other Caribbean nations must have alternative paths to move forward with their national interests and CAF is one such path.”
CAF was established in 1970 by a group of countries including Bolivia, Chile, Colombia, Ecuador, and Peru, with the objective of fostering development and integration within the Andean region. Over the years, its membership has expanded to include a broad range of countries from across Latin America, the Caribbean, and Europe, making it a key player in advancing regional cooperation and development initiatives.
Headquartered in Caracas, CAF operates with a network of offices across member countries, enabling it to maintain a strong presence throughout the region.
The core objective of CAF is to improve the quality of life for citizens by supporting projects that promote sustainable economic development. The institution focuses on a wide range of areas, including infrastructure development, energy, transportation, water and sanitation, education, health, digital transformation, and environmental sustainability. By investing in these sectors, CAF aims to strengthen resilience, reduce inequality, and foster inclusive growth.
In addition to financing, CAF provides technical assistance, research, and knowledge-sharing platforms that help governments design and implement effective public policies. Its role extends beyond funding, positioning the institution as a strategic partner in shaping long-term development agendas and addressing complex regional challenges such as climate change and economic diversification.
As the Caribbean region continues to pursue sustainable development and resilience, institutions like CAF remain critical in supporting national and regional priorities. Through its continued commitment to innovation, collaboration, and impact-driven investments, CAF is helping to build a more integrated, competitive, and sustainable future for Latin America and the Caribbean.
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