A $5 Billion Investment in Latin America's Youth: The Development Bank's New Initiative
The Development Bank for Latin America and the Caribbean will direct $5 billion over five years to projects benefiting children, emphasizing financial investments that support youth well-being. This groundbreaking initiative, using UNICEF's Child-Lens Investing Framework, aims to align with the U.N. Sustainable Development Goals by improving children's futures in the region.
The Development Bank for Latin America and the Caribbean has announced a pivotal initiative to invest $5 billion in children's projects over the next five years, marking the largest child-focused financial plan by a multilateral lender. This effort is part of a broader U.N. campaign ensuring investments safeguard children's welfare.
Utilizing UNICEF's Child-Lens Investing Framework, the bank seeks to assess potential projects aligning with childhood safety and well-being standards, amidst worldwide development aid reductions. Kitty van der Heijden of the United Nations Children's Fund highlighted the urgent need for financial sectors to consider their impact on younger generations.
The initiative, named LAC Future Bank, aspires to gather support from governments, businesses, and philanthropists to positively influence 50 million youths. CAF Executive President Sergio Díaz-Granados emphasized that investing in youth is a moral and cost-effective strategy for regional sustainable development.
(With inputs from agencies.)
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