- 20 / 21
The Development Bank of Latin America (CAF), is a development finance institution that finances development projects and promotes a sustainable development model in Latin America and the Caribbean through credit operations, non-reimbursable resources, and technical assistance. CAF was established in 1970 and currently has 17 members. Its non-sovereign portfolio finances development projects in the private sector.
CAF came second-last in the non-sovereign assessment with a score of 8.4 out of 100. It came in the bottom two for all components. We were unable to identify non-sovereign operations for CAF, despite evidence that they exist. This resulted in CAF failing all project-level indicators.
CAF came second-last in the Core Information component with a score of 1.5 out of 30. It only scored points in two organisation-level indicators, disclosure/access to information policy and annual report.
CAF came joint second-last in the Impact Management component with a score of 2.5 out of 25. It only received points for the impact measurement approach indicator by indicating which impact standards/initiatives it is aligned to and its approach to determining additionality.
CAF also came joint second-last in the ESG and Accountability to Communities component with a score of 3.67 out of 30. It failed the majority of organisation-level questions, only receiving points for its E&S global disclosure policy and E&S community disclosure policy.
CAF came joint last in the Financial Information component, scoring 0.75 out of 15. It only scored for the financial reports/statements indicator.
CAF did not score any points in the Financial Intermediary Sub-investments component, coming joint last with four other non-sovereign DFIs.
- CAF should publish its non-sovereign activities to its investment database and mark it accordingly so it is clear for stakeholders.
- CAF is planning to disclose an access to information policy in 2023, it should develop it in line with industry best practices and the DFI Transparency Tool.
- It should ensure that its data portal that it is redeveloping passes the accessibility indicator for by disclosing detailed disaggregated data, publishing data under an open licence, and providing a free, bulk export of data.
- CAF should become an IATI publisher and disclose all investments to the IATI Standard.
- It should provide more organisation-level information for Impact Management, including its impact management approach, sector/country strategies, and evaluations.
- It should develop an early disclosure policy covering, at a minimum, high risk projects and disclose investments in line with the policy.
- It should create an independent accountability mechanism (IAM) and have a policy to disclose it to communities. It should also have a policy for project grievance mechanisms (PGMs) to be disclosed to communities.