CARACAS, Venezuela – The board of directors of CAF -development bank of Latin America and the Caribbean- approved the reelection of Colombian Sergio Díaz-Granados as executive president of the institution for a new five-year term. This decision reflects the full support of shareholder countries for a leadership team that has positioned CAF as one of the region’s leading financial institutions.
The renewed vote of confidence in Díaz-Granados’ leadership responds to the results achieved during his first term and to a shared vision of continuing to promote comprehensive development, positioning Latin America and the Caribbean as a region of solutions to major global challenges.
The decision also endorses the transformative leadership that, over the past four years, has driven unprecedented institutional growth, with annual approvals exceeding USD 16 billion. In addition, the institution recorded a historic geographic expansion with the incorporation of six new countries—particularly from Central America and the Caribbean, along with Chile’s return as a full member—the largest capitalization in its history (USD 7 billion), the highest credit ratings from international agencies, and its consolidation as the green bank of Latin America and the Caribbean, among other milestones.
“I am deeply grateful for the confidence shown by the Board of Directors. This endorsement is a recognition of the teamwork across the entire institution and the commitment of our shareholder countries. In the coming period, we will redouble our efforts to become even more agile, innovative, and responsive to the needs of our member countries and the region. Between now and 2031, we aim to double our portfolio, significantly expand our work with the private sector, and strengthen productivity and sustainable growth across the region,” said Sergio Díaz-Granados, executive president of CAF.
CAF’s strategic and geographic expansion
One of the most significant milestones of the current administration has been CAF’s geographic expansion. Under Díaz-Granados’ presidency, new shareholder countries have joined the institution, reinforcing its integration-driven approach to development in Latin America and the Caribbean. This expansion has taken place across three geographic areas: South America, with Chile’s return as a full member; Central America, with Costa Rica, El Salvador, Honduras, and the Dominican Republic joining as Series A shareholders, and the addition of Guatemala; and the Caribbean, with Barbados as a full member and the incorporation of Antigua and Barbuda, The Bahamas, and Grenada as new CAF shareholder countries.
This expansion is positioning CAF as the multilateral development bank with the broadest geographic presence in the region, translating into greater capacity to promote integration, trade, and cross-border impact projects. In addition, new partners will gain increased access to financing through loans and technical cooperation, benefit from donor-funded resources administered by CAF, and access knowledge tools to strengthen both their public and private sectors.
At the same time, the injection of resources from the USD 7 billion capital increase—the largest in CAF’s history—has significantly strengthened the institution’s financial capacity to respond to major challenges such as climate action, productive transformation, the energy and digital transitions, infrastructure modernisation, and greater private-sector participation in economic growth.
Financial strength and global recognition
This ambitious, prudent, and forward-looking management approach has been recognised by leading credit rating agencies. Most recently, Standard & Poor’s upgraded CAF’s rating to AA+, the highest in the institution’s history. This investment-grade rating—among the strongest globally for a multilateral institution—reflects CAF’s financial strength, strong corporate governance, and the sustainability of its business model, enabling it to mobilise more resources on favourable terms for the benefit of the region.
Díaz-Granados’ leadership has also extended beyond the financial sphere. His inclusion in TIME magazine’s prestigious list of the 100 Most Influential People in the World in 2025 reflects the growing role of CAF and of Latin America and the Caribbean on the global stage. The recognition highlights his work at the helm of an institution that has become a key player in addressing some of the world’s most pressing challenges, including climate action, the energy transition, and poverty reduction.
CAF, the region’s green bank
Committed to the future of the planet, CAF has defined a clear roadmap to become the green bank of Latin America and the Caribbean. Under Díaz-Granados’ leadership, in 2021, the institution set the goal of becoming the region’s green bank, aiming for at least 40 percent of its approved operations to be sustainable by 2026. This milestone was reached ahead of schedule in 2024, demonstrating exceptional momentum in CAF’s environmental commitment.
At COP30 in Belém, CAF announced a USD 40 billion investment over the next five years to drive green growth, along with an increase in the share of green financing to 50 percent by 2030. These resources will be channelled toward renewable energy, sustainable mobility, the circular economy, biodiversity conservation, and climate change adaptation. This ambitious goal consolidates CAF as the leading mobilizer of climate finance in the region and underscores its ability to meet—and exceed—its strategic objectives.
