CAF

What CAF does

CAF (Banco de Desarrollo de Am\u00e9rica Latina y el Caribe), formerly known as Corporaci\u00f3n Andina de Fomento, is a multilateral development bank founded in 1970 and owned by over 20 shareholder countries across Latin America, the Caribbean, Spain, and Portugal. It provides sovereign and non-sovereign financing, including loans, guarantees, credit lines, and A/B loan structures, alongside technical cooperation and knowledge services, to national governments, sub-national entities, state-owned enterprises, private sector borrowers, and financial institutions across the region. The bank raises capital primarily through international bond issuances \u2014 including green, social, and youth-labeled instruments \u2014 and on-lends at concessional or market rates determined by country risk, project type, and policy alignment.

The bank's product portfolio spans four layers: (1) core financial products covering sovereign and non-sovereign lending, syndicated A/B loans, and guarantees; (2) thematic and knowledge products such as the annual RED (Reporte de Econom\u00eda y Desarrollo) publication in its 20th year, the Scioteca digital research repository, the BiodiverCiudades urban biodiversity network, and the Banco Futuro LAC initiative with UNICEF; (3) capacity-building programs including long-duration diploma courses for public officials; and (4) newer digital initiatives such as the Latam-GPT open-source AI language model (developed with CENIA on Meta's LLaMA), the UNESCO AI Education Observatory, and the DoctorSV telemedicine app in El Salvador. The bank operates through more than 20 country offices anchored by its headquarters in Caracas.

CAF earns revenue primarily through net interest income on its sovereign and non-sovereign loan portfolio, complemented by guarantee fees, commitment fees on undisbursed facilities, and spreads on bond issuance programs. Capital is sourced from AAA-rated access to international capital markets (the May 2026 EUR 1 billion Green Bond achieved EUR 10.4 billion of demand, a 10x oversubscription) and bilateral or multilateral co-financing arrangements with MIGA, the World Bank, IDB, OPEC Fund, and commercial banks. Go-to-market is enterprise and government field sales through direct bilateral engagement, multilateral co-financing, and syndicated structures, with no consumer-facing or self-service channel.

Name

CAF

Legal name

CAF - Banco de Desarrollo de América Latina

Website

https://caf.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

501–1,000 employees

Short description

CAF (Banco de Desarrollo de Am\u00e9rica Latina y el Caribe) is a multilateral development bank providing sovereign and non-sovereign financing, technical cooperation, and thematic bond issuances to governments, state-owned enterprises, and private sector clients across 30+ shareholder countries in Latin America, the Caribbean, and Europe.

Ownership category

akta.pro rank

Product category

Development Banking

NAICS

Commercial Banking (52211)

SIC

International Affairs (9721), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

National Development Banks & State Development Finance Institutions (DFIs) (BPADACAC)

akta.pro secondary industries

Private Sector & Blended Finance Arms (IFC-type) (BPADACAJ), Carbon Markets & Climate Finance (Offsets, Allowances, Carbon Funds) (FSAAALAH), Climate Finance Funds & Green Investment Facilities (BPADACAH)

Keywords

• Development banking
• Sovereign lending
• Project finance
• Green bond issuance
• Technical cooperation

Headquarters

HQ city

Brasília

HQ country

Brazil

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Development Lending: CAF provides loans, guarantees, and credit lines to sovereign governments, sub-national entities, and private sector clients. Revenue is generated through interest income on disbursed loans, commitment fees, and spreads on bond issuances.
2. Bond Issuances: CAF raises capital through international bond markets, including green bonds, social bonds, and sustainable instruments, then on-lends to development projects.
3. Green and Sustainable Finance: CAF issues thematic bonds (green, blue, children and youth) to finance climate, environmental, and social projects, mobilizing private capital for sustainable development.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

CAF is a multilateral development bank providing sovereign and non-sovereign financing (loans, guarantees, credit lines, A/B loans), technical cooperation and capacity-building programs, and knowledge/research services to Latin American and Caribbean shareholder countries. It raises funds through international capital markets (including green, social, blue, and children and youth bonds) and on-lends them to governments, sub-national entities, financial institutions, and private sector borrowers to finance infrastructure, climate action, digital transformation, and social development projects.

Product overview

CAF (Banco de Desarrollo de América Latina y el Caribe) operates as a multilateral development bank offering a portfolio of financial products, knowledge services, and technical programs. Core offerings include sovereign and non-sovereign financing, technical cooperation, and knowledge products like the RED (Reporte de Economía y Desarrollo) publication and Scioteca digital repository. Notable technology initiative: Latam-GPT, an open-source AI language model developed with CENIA for Latin American digital sovereignty. Additional programs include capacity-building through diplomados and training courses, innovation labs like the Laboratorio de Inclusión Financiera, the BiodiverCiudades network for sustainable urban development, and the Banco Futuro LAC initiative with UNICEF for youth-focused financing. The institution also supports the UNESCO-CAF AI Education Observatory and DoctorSV telemedicine app in El Salvador.

Differentiator

Problem solved

Functional benefit

Brands

• Fondo para la Recuperación y Reconstrucción de Venezuela: A fund administered by CAF to centralize contributions from governments, international organizations, companies, foundations, and individuals for Venezuela's earthquake response and reconstruction efforts.
• BiodiverCiudades Network
• Reporte de Economía y Desarrollo (RED)
• Banco Futuro LAC
• International Economic Forum Latin America and the Caribbean

Products and services

• Sovereign and Non-Sovereign Financing Long-term development financing for sovereigns and non-sovereign clients across Latin America and the Caribbean, supporting infrastructure, social programs, climate action, and productive sector investments.
• Technical Cooperation Programs Technical assistance and knowledge transfer services supporting public policy development, project preparation, and institutional strengthening for governments and public entities in member countries.
• Green Bond Program Thematic bond issuance program to finance eligible green projects including clean transportation, climate adaptation, sustainable water management, energy efficiency, and biodiversity.
• Children and Youth Bond Social bond instrument financing projects focused on children and youth across Latin America and the Caribbean, aligned with UNICEF's Child-Lens Investing Framework.
• A/B Loan Syndicated Facilities Syndicated loan product in which CAF provides the senior A tranche and mobilizes parallel B loans from commercial banks and development finance institutions, enabling large project finance with private capital mobilization.
• Reporte de Economía y Desarrollo (RED) Annual flagship research publication analyzing economic and development issues in Latin America and the Caribbean.
• Scioteca Knowledge Platform Digital knowledge repository hosting CAF's research documents, working papers, reports, and regional studies accessible to public sector officials, academics, and the public.
• Diplomados y Capacitaciones (Capacity Building Programs) Long-duration diploma programs and virtual training courses on financial inclusion, governance, public innovation, and leadership for transformation, targeting public officials, academics, and civil society leaders.
• Laboratorio CAF de Inclusión Financiera Financial inclusion innovation lab developing digital solutions for financial inclusion and education targeted at rural communities and MSMEs in Latin America and the Caribbean.
• BiodiverCiudades Network Network of local governments focused on coordinated action to identify, structure, and finance sustainable urban interventions centered on people and biodiversity.
• Banco Futuro LAC CAF-UNICEF initiative to mobilize financial and technical resources for quality development projects focused on children and youth across Latin America and the Caribbean.
• MSME Credit Access Program with Mastercard Center for Inclusive Growth On-lending program through financial intermediaries (banks, non-bank lenders, digital lenders) to expand credit access for MSMEs across Latin America and the Caribbean, with emphasis on women-owned businesses and climate finance.

Quantifiable outcome

• Over USD 2.8 billion invested in digital infrastructure over 6 years
• +3 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Partnerships

Eleven partnerships are on record, tiered minor, core and flagship.

• Government of El Salvador and GoogleminorStrategic or Co-development Partner · 28 April 2026Support for DoctorSV, an AI-powered telemedicine app in El Salvador's public healthcare system. App launched in 2025 with support from Google and CAF, designed for AI-assisted chronic disease detection and treatment adherence. Second phase announced in 2026.
• Mastercard Center for Inclusive GrowthcoreStrategic or Co-development Partner · 17 April 2026Partnership to expand access to credit for micro, small and medium enterprises (MSMEs) across Latin America and the Caribbean with aspirational target of USD 100 million over four years. CAF will finance banks, non-bank financial institutions, and digital lenders while the Center provides complementary support to strengthen the MSME ecosystem. Special emphasis on women-owned businesses and climate finance with initial priority countries including Colombia, Peru, Panama, Ecuador, Chile, and El Salvador.
• World Economic ForumflagshipStrategic or Co-development Partner · 16 April 2026CAF became an associate partner of the World Economic Forum, gaining access to WEF's high-level communities and events including the Annual Meeting in Davos. The agreement covers 11 thematic centers addressing global challenges including climate, energy, AI, and cybersecurity. Aims to position Latin America and the Caribbean as a hub for solutions to economic, social, and environmental challenges.
• UNESCOcoreStrategic or Co-development Partner · 14 April 2026Partnership in the Observatory on Artificial Intelligence in Education for Latin America and the Caribbean, launched at ECLAC headquarters in Santiago, Chile. Multi-stakeholder platform designed to help countries integrate AI into education systems with focus on equity, quality, and sustainable development. CAF joins CENIA, Cetic.br/NIC.br, ECLAC, Ceibal Foundation, and other organizations.
• CENIA (Chile's National Center for Artificial Intelligence)coreStrategic or Co-development Partner · 10 February 2026CAF provided USD 550,000 in funding for Latam-GPT, the first open-source AI language model trained on Latin American data. Model developed by CENIA with support from over 30 institutions across 8 Latin American countries. Built on Meta's LLaMA model using AWS infrastructure. Training data exceeds 8 terabytes covering Spanish, Portuguese, and plans for Indigenous languages.
• MIGA (Multilateral Investment Guarantee Agency)coreStrategic or Co-development Partner · 5 February 2026Three-year agreement to mobilize private capital, manage risks, and promote sustainable development across Latin America and the Caribbean. Focus areas include credit risk management through MIGA guarantees, capital mobilization through joint financial product issuance, and strategic collaboration to scale impactful operations in infrastructure, financial inclusion, urban development, and climate action. Partnership builds on relationship established in 2020.
• Various Latin American Governments and OrganizationsflagshipStrategic or Co-development Partner · 4 February 2026CAF organized a conference near the Panama Canal gathering over 6,000 Latin American political leaders and business executives to address regional vulnerabilities amid US-China rivalry. Conference focused on regional integration, the Panama Canal as geopolitical flashpoint, and pragmatic approaches to navigate a discretionary global order.
• C40 Cities Climate Leadership GroupcoreStrategic or Co-development Partner · 28 January 2026Strategic partnership through memorandum of understanding signed at the International Economic Forum 2026 in Panama City to accelerate urban climate finance and project delivery across Latin America and the Caribbean over five years. Collaboration supports cities in preparing, financing, and implementing projects focused on climate adaptation, biodiversity, sustainable urban mobility, and water and sanitation, with over 30 local authorities including mayors from Bogotá, Quito, and Fortaleza participating.
• UNDPcoreStrategic or Co-development Partner · 12 November 2024Joint launch of the Gender Equality Seal for Public Financial Institutions to promote gender equality and women's financial inclusion in Argentina, Bolivia, and Mexico. Program addresses significant gender gap where only 69% of women have financial accounts compared to 77% of men. Participating institutions include Banco de Desarrollo Productivo (Bolivia), Nacional Financiera (Mexico), and Banco Ciudad de Buenos Aires (Argentina).
• OPEC FundcoreStrategic or Co-development PartnerCAF and OPEC Fund strengthening alliances for investments in Latin America and the Caribbean. High-level meeting in Vienna gathering finance ministers and Arab Coordination Group members to identify concrete investment opportunities and strengthen strategic alliances.
• 14 Regional OrganizationsflagshipStrategic or Co-development PartnerCAF and 14 regional organizations signed a declaration to accelerate Latin American and Caribbean integration. Declaration aims to deepen commercial, cultural, and logistical integration and promote greater relevance of the region globally.

Scale indicators14 records

Recent moves6 records

Expansion highlights7 records

Broad incumbents

• Asian Development Bank (ADB): The ADB is a large regional multilateral development bank providing sovereign loans, private-sector investment, and technical assistance across Asia-Pacific. Comparable to CAF in product structure (sovereign lending, thematic bonds, A/B loans) and AAA funding model, but serving a different region.
• European Bank for Reconstruction and Development (EBRD): The EBRD is a multilateral development bank investing in private-sector development and transition across emerging Europe and Central Asia. It shares CAF's emphasis on private-sector mobilization, thematic/green finance, and capital-markets-funded lending.
• African Development Bank (AfDB): The AfDB is a continental multilateral development bank providing sovereign and non-sovereign financing across Africa. It is structurally comparable to CAF in mandate, instrument set, and supranational AAA-rated funding model, though focused on a different geography.
• Islamic Development Bank (IsDB): The IsDB is a multilateral development institution serving 57 member countries across multiple regions, providing Shariah-compliant financing alongside conventional lending. Structurally similar to CAF as a sovereign-owned MDB issuing sukuk/bonds and operating concessional and non-concessional windows.

Direct peers

• OPEC Fund for International Development: The OPEC Fund is a multilateral development finance institution providing concessional loans, grants, and trade finance across more than 100 developing countries. CAF and the OPEC Fund held a high-level Vienna meeting in June 2026 to identify joint investments in LAC, positioning it as a closely collaborating peer development financier.
• International Finance Corporation (IFC): IFC is the private-sector arm of the World Bank Group, providing blended finance, equity, and loans to private companies in emerging markets. Like CAF, IFC structures A/B loans, mobilizes private capital, and develops thematic instruments for emerging markets, making it a direct peer in non-sovereign lending.
• MIGA (Multilateral Investment Guarantee Agency): MIGA provides political risk insurance and credit enhancement to investors in emerging markets. In February 2026, MIGA and CAF signed a three-year agreement on capital mobilization through joint guarantees, making it a complementary peer in LAC blended finance and political-risk coverage.
• Inter-American Development Bank (IDB): The IDB is the largest multilateral development bank focused on Latin America and the Caribbean, offering sovereign and non-sovereign financing, guarantees, and technical cooperation. Both institutions serve overlapping shareholder countries with comparable lending, guarantee, and knowledge products, making it the closest direct peer to CAF.
• International Bank for Reconstruction and Development (World Bank/IBRD): The World Bank is the largest multilateral development institution providing sovereign loans, policy-based lending, and development knowledge globally. It frequently co-finances with CAF on major LAC infrastructure and climate projects (e.g., Ande electricity financing in Paraguay), making it a strategic co-financing peer.

Regional players

• Fonplata (Fondo Financiero para el Desarrollo de la Cuenca del Plata): Fonplata is a smaller multilateral development bank serving the five river-basin countries of the Plata region (Argentina, Bolivia, Brazil, Paraguay, Uruguay). It is a smaller-scale regional peer operating with a similar public-development-financing mandate in part of Latin America.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/AgendaCAF

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments20 records

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CAF