The Development Bank of Latin America and the Caribbean (CAF) has pledged to invest $2.5 billion by 2030 to bolster the sustainable blue economy and protect marine ecosystems across the region. The announcement was made during the Blue Economy and Finance Forum (BEFF) in Monaco, reinforcing CAF’s position as a leading multilateral institution in blue finance.
This new commitment doubles CAF’s earlier pledge made at the 2022 Lisbon Conference—an objective that the bank has already surpassed—bringing its total financing for ocean-related initiatives to USD 1.32 billion to date. The funds have supported 17 credit operations and 18 technical cooperation projects in 16 countries, all focused on marine conservation and the sustainable use of coastal resources.
CAF’s USD 2.5 billion investment will be directed toward a wide range of initiatives, including ocean preservation, artisanal fisheries, responsible tourism, coastal management, marine ecosystem restoration, clean ocean technologies, renewable marine energy, and decarbonisation of maritime transport and ports.
The announcement was accompanied by the launch of CAF’s new sustainable blue economy strategy, presented at both BEFF and the UN Ocean Conference (UNOC). The strategy outlines a holistic framework to help countries in Latin America and the Caribbean develop productive systems linked to the oceans, positioning CAF as both a financial provider and a strategic partner for coastal and marine development plans.
CAF’s oceans strategy is structured around four key pillars:
- Financing: Mobilising resources and innovative financial instruments, including blue bonds, marine biodiversity credits, and debt-for-nature swaps.
- Blue diplomacy: Promoting regional cooperation and advocating for the oceans as global public goods.
- Education and capacity building: Raising awareness and strengthening skills among stakeholders.
- Local value generation: Encouraging private sector engagement with an emphasis on retaining economic benefits within coastal communities.
“This important financial commitment not only reflects CAF’s effort to protect the region’s marine ecosystems, but also our ambition to be the main catalyst for a sustainable and regenerative blue economy in Latin America and the Caribbean,” said Sergio Díaz-Granados, CAF’s Executive President. “We reaffirm our commitment to a future where prosperity and sustainability protect the oceans, which are essential for the future of the region and the planet.”
The announcement was made in partnership with the World Economic Forum and the World Resources Institute. A forthcoming special report will provide further analysis on the state of the blue economy in Latin America and the Caribbean and identify key areas for future investment.
