26 December 2011: The Latin American Development Bank (CAF) and the Avina Foundation signed a Memorandum of Understanding (MOU) to form alliances for sustainable development in Latin America. The two parties plan to cooperate in facilitating the implementation of programmes and projects of common interest, with a special emphasis on “less fortunate” communities in CAF shareholder countries, with a view to promoting alliances between social leaders and the business sector.

The areas of common interest identified include: sustainable cities; inclusive businesses; social development; water and sanitation; environment; climate change; competitiveness; citizen participation; transparent governance; and social responsibility. The Avina Foundation, a Latin American foundation created in 1994, aims to promote alliances between social and business leaders, and to articulate agendas for consensual action to promote sustainable development. [CAF Press Release]