LAC Future Bank Pledges $5 Billion to Invest in Children's Future
The Development Bank for Latin America and the Caribbean pledges $5 billion over five years to children's welfare, aligning with a U.N. campaign. Using UNICEF's framework, the bank aims to ensure financial decisions positively impact youth, aspiring to aid 50 million children in the region.
The Development Bank for Latin America and the Caribbean is set to invest $5 billion over the upcoming five years to support child-focused projects. This initiative is part of a larger U.N. effort to ensure financial investments contribute positively to the lives of children globally.
Utilizing UNICEF's Child-Lens Investing Framework, the bank will evaluate projects to uphold standards of childhood safety and well-being. Assistant Secretary-General Kitty van der Heijden hailed the move as crucial, stating that investments in children can yield vast societal benefits.
The initiative, named LAC Future Bank, aims to draw capital from various sectors to support 50 million children in need within the region by 2030, underscoring the economic and moral imperative of investing in youth, according to CAF's Executive President Sergio Díaz-Granados.
(With inputs from agencies.)
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