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After more than 17 years of collaboration on specific projects, the two organizations signed a memorandum of understanding (MoU) in Geneva on 18 May 2015.

Taken from UNCTAD Website

Geneva, May 19, 2015.- Latin American countries seeking assistance to meet new United Nations development goals to be signed off at a summit in New York in September can now benefit from a formal partnership between CAF (Development Bank of Latin America) and UNCTAD, focused on trade and sustainable development.

After more than 17 years of collaboration on specific projects, the two organizations signed a memorandum of understanding (MoU) in Geneva on 18 May 2015.

"This MoU formalizes our partnership with CAF and our joint commitment in promoting sustainable development in Latin America" said Mr. Joakim Reiter, UNCTAD Deputy-Secretary General.

This will not only formalize the existing relationship between UNCTAD and CAF, but also directly involve CAF as a full partner in some of UNCTAD's trade, environment and sustainable development activities for the next two years.

Mr. René Gómez-García Palao, Senior Executive and Head of the Green Business Unit of CAF highlighted that "this is the kind of strategic alliance that can benefit our countries the most".

The organizations plan to cooperate on the following specific areas:

Assess the contribution of the oceans economy, especially sustainable fisheries and marine ecosystem services, to trade, growth and sustainable development.

Promote BioTrade and climate change measures.

Facilitate the growth of the BioTrade sector in improving livelihoods of rural communities dependent on sustainable use of biodiversity-based goods and services.

CAF, a development bank made up of 17 Latin American and Caribbean countries, plus Spain and Portugal, as well as 14 private banks in the region, has previously collaborated with UNCTAD on areas such as BioTrade and climate change.

Examples include the co-sponsoring of UNCTAD BioTrade Congresses, beginning in 2012, and CAF's membership of the Global Network of Export-Import Banks and Development Finance Institutions (G-NEXID).