The EIB and CAF have established mechanisms to enhance their partnership by exploring opportunities for further cooperation and improvement in the area of co-financing, coordinating their strategies and activities in CAF's shareholder countries and common priority sectors, and exchanging information in order to benefit from each other's experiences and expertise. This collaboration on matters of common concern will lead to the better achievement of common development objectives.
The European Investment Bank is the EU's long-term financing institution promoting European objectives. Set up in 1957, it operates in the 27 EU Member States and more than 130 other countries in Asia and Latin America, Central and Eastern Europe, the Balkans, the Mediterranean region, Africa, the Caribbean and the Pacific. Lending operations outside the EU form part of EU cooperation policy with third countries.
Since 1993 the Bank has implemented four successive lending mandates for Asia and Latin America. Under the current mandate (ALA IV), covering the period 2007-2013, the EIB is authorised to lend up to EUR 3.8 billion for financing operations that contribute to supporting the EU's presence in those regions through foreign direct investment and the transfer of technology and know-how, as well as investments aimed at mitigating the effects of climate change. The EUR 3.8 billion regional ceiling is broken down into indicative sub-ceilings of EUR 2.8 billion for Latin America and EUR 1 billion for Asia.
Corporación Andina de Fomento is a multilateral financial institution that supports the sustainable development of its shareholder countries and integration efforts within the Andean region. CAF is encouraging greater economic cooperation between its Latin American and Caribbean shareholder countries and Europe.