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Sergio Díaz-Granados was re-elected this Monday as executive president of CAF, the development bank for Latin America and the Caribbean. This was approved by the board of directors of the multilateral organization meeting in Panama, which implies a vote of confidence for the Colombian leadership for five more years, for the period 2026-2031.
“With this decision, CAF projects into the future with leadership, stability and a clear vision to continue being the engine of sustainable development in the region,” the bank said in a statement in which it highlighted as achievements of the first Díaz-Granados administration “the $7 billion capitalization of the organization, its geographic expansion and consolidation in Central America and the Caribbean, as well as the promotion of the private sector and the best risk ratings in the history of the organization.”
Born in Santa Marta (Colombia) 57 years ago, Díaz Granados was elected president of CAF for the first time in September 2021 and decided to make it the green development bank of Latin America, predicting that at least 40% of its operation approvals would be sustainable by 2026, which it achieved in 2024. Among its commitments is that of transforming Latin America and the Caribbean into a region of solutions to major global challenges.
“I deeply appreciate the trust of the Board,” Díaz-Granados said after his re-election was approved. “This support is a recognition of the teamwork of the entire institution and the commitment of our shareholder countries. In the next period, we will redouble our efforts to be increasingly agile, innovative and close to the needs of member countries and the region. By 2031, we aim to double our portfolio, decisively promote work with the private sector and strengthen the productivity and sustainable growth of the region.”
Over the past four years, with Díaz-Granados at the helm of the institution, CAF has obtained annual approvals exceeding $16 billion. In addition, the bank added six new countries to its portfolio (Costa Rica, El Salvador, Honduras, Dominican Republic, Guatemala and Barbados) and signed the return of Chile as a full member. Additionally, the Caribbean islands of Antigua and Barbuda, the Bahamas and Grenada joined the group as shareholder countries. With these expansions, the multilateral bank seeks to increase its capacity to promote integration, trade and cross-border impact projects.
Included this year among the 100 most influential climate leaders in the world according to the magazine TIMEAt the recent Belém Climate Summit, Díaz Granados announced an investment of $40 billion over the next five years to boost green growth and an increase in the percentage of its green financing to 50% by 2030, resources that will be channeled towards renewable energy, sustainable mobility, the circular economy, biodiversity conservation and adaptation to climate change.
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