WASHINGTON, Feb. 5, 2026—The Development Bank of Latin America and the Caribbean (CAF) and the Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, have signed an agreement to mobilize private capital, manage risks, and promote sustainable development in the countries of Latin America and the Caribbean.
The agreement, signed at MIGA's offices in Washington, D.C., seals the commitment of both multilateral institutions to work together to expand financing for impactful projects in the region, particularly in critical areas such as infrastructure, financial inclusion, urban development, and climate action.
The institutions will work to ensure that World Bank Group guarantee products support risk management initiatives within CAF's loan portfolio, thereby freeing up capital to finance additional operations. Collaboration will focus on three main areas: credit risk management through portfolio or individual guarantees issued by MIGA; capital mobilization through joint participation in the issuance of financial products; and strategic collaboration to foster cooperative efforts in other areas of mutual interest.
This joint approach will enable both institutions to enhance the scope and effectiveness of their operations, strengthening the confidence of investors and creditors, and contributing to sustainable development and regional integration in CAF's shareholder countries.
“MIGA’s agreement with CAF demonstrates our continued commitment to supporting sustainable development in Latin America and the Caribbean,” said Tsutomu Yamamoto, MIGA Managing Director. “We look forward to working with CAF to promote growth and job creation in the region.”
"The signing of this agreement reflects a mutual commitment to work on operations in the region to mobilize resources and support the viability of projects that help countries achieve the Sustainable Development Goals," said Sergio Díaz-Granados, Executive President of CAF.
The relationship between CAF and MIGA dates to 2020, with initial discussions to collaborate on mitigating the economic impact of the pandemic. After a process that included the signing of confidentiality agreements and numerous technical exchanges during 2025 on legal, risk, environmental, and financial aspects, the parties have solidified a strong foundation for this formal alliance.
Tangible Examples and Scope
MIGA has a proven track record in the region, with operations ranging from a $1.2 billion guarantee in Brazil to support smallholder farmers to a $11.7 million guarantee to modernize St. Lucia’s streetlight network, and most recently a $229 million guarantee in Barranquilla, Colombia for social infrastructure and urban sustainability.
The new collaboration framework with CAF will allow for the replication and expansion of the impact of such operations, exploring mechanisms such as joint guarantee operations, co-mobilization of resources, business development, and joint events. A priority area identified is support for subnational projects (municipalities, departments, and cities) and solid public companies, sectors where access to guarantees can be critical.
The agreement, which has an initial term of three years and can be renewed by mutual consent, reinforces the shared mission of both institutions to catalyze investments that generate inclusive economic growth, reduce poverty, and improve people's quality of life. By combining their strengths, CAF and MIGA are positioned to act as a powerful catalyst to close the development financing gap in Latin America and the Caribbean, attracting private capital toward projects that are essential for a more sustainable and resilient future.
About CAF
CAF is a development bank committed to the Latin America and Caribbean region. It aims to become the green and blue bank and the bank for sustainable and inclusive growth in its shareholder countries.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org (ehowton[at]worldbankgroup[dot]org)
WASHINGTON, Feb. 5, 2026—The Development Bank of Latin America and the Caribbean (CAF) and the Multilateral Investment Guarantee Agency (MIGA), home of the World Bank Group Guarantee Platform, have signed an agreement to mobilize private capital, manage risks, and promote sustainable development in the countries of Latin America and the Caribbean.
The agreement, signed at MIGA's offices in Washington, D.C., seals the commitment of both multilateral institutions to work together to expand financing for impactful projects in the region, particularly in critical areas such as infrastructure, financial inclusion, urban development, and climate action.
The institutions will work to ensure that World Bank Group guarantee products support risk management initiatives within CAF's loan portfolio, thereby freeing up capital to finance additional operations. Collaboration will focus on three main areas: credit risk management through portfolio or individual guarantees issued by MIGA; capital mobilization through joint participation in the issuance of financial products; and strategic collaboration to foster cooperative efforts in other areas of mutual interest.
This joint approach will enable both institutions to enhance the scope and effectiveness of their operations, strengthening the confidence of investors and creditors, and contributing to sustainable development and regional integration in CAF's shareholder countries.
“MIGA’s agreement with CAF demonstrates our continued commitment to supporting sustainable development in Latin America and the Caribbean,” said Tsutomu Yamamoto, MIGA Managing Director. “We look forward to working with CAF to promote growth and job creation in the region.”
"The signing of this agreement reflects a mutual commitment to work on operations in the region to mobilize resources and support the viability of projects that help countries achieve the Sustainable Development Goals," said Sergio Díaz-Granados, Executive President of CAF.
The relationship between CAF and MIGA dates to 2020, with initial discussions to collaborate on mitigating the economic impact of the pandemic. After a process that included the signing of confidentiality agreements and numerous technical exchanges during 2025 on legal, risk, environmental, and financial aspects, the parties have solidified a strong foundation for this formal alliance.
Tangible Examples and Scope
MIGA has a proven track record in the region, with operations ranging from a $1.2 billion guarantee in Brazil to support smallholder farmers to a $11.7 million guarantee to modernize St. Lucia’s streetlight network, and most recently a $229 million guarantee in Barranquilla, Colombia for social infrastructure and urban sustainability.
The new collaboration framework with CAF will allow for the replication and expansion of the impact of such operations, exploring mechanisms such as joint guarantee operations, co-mobilization of resources, business development, and joint events. A priority area identified is support for subnational projects (municipalities, departments, and cities) and solid public companies, sectors where access to guarantees can be critical.
The agreement, which has an initial term of three years and can be renewed by mutual consent, reinforces the shared mission of both institutions to catalyze investments that generate inclusive economic growth, reduce poverty, and improve people's quality of life. By combining their strengths, CAF and MIGA are positioned to act as a powerful catalyst to close the development financing gap in Latin America and the Caribbean, attracting private capital toward projects that are essential for a more sustainable and resilient future.
About CAF
CAF is a development bank committed to the Latin America and Caribbean region. It aims to become the green and blue bank and the bank for sustainable and inclusive growth in its shareholder countries.
About the World Bank Group Guarantee Platform
Initiated in 2024, the World Bank Group Guarantee Platform consolidates guarantee products and experts from across the World Bank Group at MIGA. It provides a simplified and comprehensive menu of guarantee solutions, enabling clients to select the instrument that best suits their needs. The platform streamlines processes, removes redundancies, and provides greater accessibility by de-risking investments in developing countries. Its goal is to boost the World Bank Group’s annual guarantee issuance to $20 billion by 2030.
For more information about the guarantee platform, please visit: https://www.worldbank.org/wbgguarantees
Stay updated and follow us at https://x.com/MIGA and https://www.linkedin.com/company/wb-miga
Contact: In Washington: Elizabeth Howton, ehowton [at] worldbankgroup.org (ehowton[at]worldbankgroup[dot]org)