The Development Bank of Latin America (CAF) and the Latin American Energy Organization (OLADE) sign a memorandum of understanding to strengthen cooperation in the energy sector and promote regional integration in Latin America and the Caribbean.
OLADE is an intergovernmental public body for technical cooperation, coordiantion and advisory, integrated by 27 countries of Latin America and the Caribbean, with the fundamental objective of fostering integration, development, conservation, rational use, commercialization and defense of the region’s energy resources.
The Development Bank of Latin America (CAF) is a development bank comprised of 20 countries (18 Latin American and Caribbean countries, Spain and Portugal) and 13 private banks in the region, whose objective is to promote sustainable development and regional integration in Latin America by providing multiple financial services to public and private sector clients in its shareholder countries.
This agreement establishes a regulatory framework for inter-institutional collaboration aimed at the execution of activities related to the energy sector, whose main objective is to promote and strengthen regional energy development and integration, focusing on various areas of cooperation such as: regional energy integration, regulatory harmonization in the electricity market, green hydrogen certification, environmental and social validation processes, permits and licenses, technical studies, energy security and emissions reduction.
The executive secretary of OLADE, Andrés Rebolledo, emphasized that this agreement reinforces a joint work path that has been very fruitful at a time when the region is going through important challenges with integration as the central focus. In turn, the executive president of CAF, Sergio Díaz-Granados Guida, emphasized that the signing of this agreement links two institutions that have been working for many years and takes this cooperative relationship to new and more ambitious horizons.
The signing of the Memorandum of Understanding between the Latin American Energy Organization (OLADE) and the Development Bank of Latin America (CAF) will enable the promotion of activities aimed at fostering regional energy development.
Communications and Institutional
Relations Department
josefa.corral@olade.org