ALIDE’s 49th General Assembly brings together European, Latin American and Caribbean Development Banks in Madrid
May 20, 2019.- Among the important authorities of development banks, governments and international organizations participating in the 49th General Assembly of ALIDE, held in Madrid, Spain from May 20 to 22, were Spain’s acting Minister of Industry, Trade and Tourism, María Reyes Maroto, the President of the Instituto de Crédito Oficial (ICO), José Carlos García de Quevedo, European Investment Bank (EIB) President, Werner Hoyer, and the President of ALIDE, Juan Curutchet.
This year’s General Assembly entitled “European – Latin American and Caribbean Experiences and Financial Cooperation” focused on the analysis of strategies, mechanisms and alternatives for strengthening financial and technical cooperation between the countries of Latin America and the European Union, with special attention on attaining the Sustainable Development Goals (SDGs), the bi-regional agenda for development cooperation and the barriers to trade.
Minister Reyes Maroto, in speaking at the Assembly’s inaugural session, underscored the fact that “Latin America and the Caribbean are without a doubt a principal priority of both Spain’s trade policy and our enterprises, which have demonstrated a stability and vocation for steadfastness and have undoubtedly served as a driving force for the creation of employment and wealth. I would like to stress that the trust they place in Latin America has clearly influenced the region’s enhanced competitiveness in the transfer of knowledge and technology.”
In her address, she also showcased “the role of development banks whose aim is to contribute to more efficient resource allocation by acting as intermediaries between the suppliers and demanders of funds and by funneling savings into investments. It is for that reason that ALIDE’s function has assumed basic importance in ensuring that Latin America and the Caribbean continue to prosper.”
José Carlos García de Quevedo, President of ICO, this year’s host, for his part, pointed out that “holding this Assembly in Madrid reflects the importance of the alliances between Europe and Latin America and reinforces Spain’s role as a bridge between the two regions. During this event, we will be able to exchange views and create alliances that will enable us to boost our activity as financial institutions that contribute to inclusive economic growth and the attainment of the Sustainable Development Goals.”
EIB President, Werner Hoyer, emphasized “the basic role played by the EIB, as the EU central bank, in promoting sustainable investments in Latin America. The European Union is the foremost economic development partner of the region, into which it has already poured roughly EUR 8,400 million for the implementation of close to 120 projects, many of them centering on climate-related efforts. The EIB is already the largest financer of projects to fight climate change and that is our top priority in Latin America. It is necessary for the development banks of Europe and Latin America to join forces in promoting investments that will make it possible to improve the living conditions of the citizens and to create sustainable and inclusive wealth. Only in that way will we be able to face up to the major challenges lying ahead.”
During his speech, ALIDE President, Juan Curutchet, stated that “in today’s world, we’d do well to strengthen ties between development finance institutions of the different regions in order to promote a two-way flow of cooperation, trade and investments.” He referred in particular to relations with Europe, in stating that “recent years have seen business relations and cooperation between the two regions bear fruit. The EU has been the foremost source of foreign direct investment (FDI) in Latin America since the mid-nineties. Even so, it is important to underscore the impact exerted by other areas like Asia, and particularly China.”
The 49th General Assembly was held under the sponsorship of the Spanish Agency for International Development Cooperation (Aecid), the European Investment Bank (EIB), the Inter-American Investment Bank (IDB), CAF – Development Bank of Latin America, and the Spanish Development Finance Institution (Compañía Española de Financiación del Desarrollo (Cofides); and with the collaboration of the French Development Agency (AFD) and the KfW Development Bank (Kreditanstalt für Wiederaufbau); and strategic alliances with Iberia, S&P Global Market Intelligence, Thomson Reuters and AIS – Aplicaciones de Inteligencia Artificial.
ALIDE is the community of financial institutions that generates solutions in Latin America and the Caribbean. Its main objective is to contribute to the economic and social development of the region, through good practices in the financing of development, the promotion of its members, through cohesion activities and strengthening the participation of financial institutions in the process regional economic.