Which Latin American development bank, founded in 1970, is headquartered in Caracas?
Answer
CAF—Development Bank of Latin America and the Caribbean
CAF—Development Bank of Latin America and the Caribbean, founded in 1970, is headquartered in Caracas, Venezuela.
The institution began as the Andean Development Corporation, created by Bolivia, Chile, Colombia, Ecuador, Peru, and Venezuela. Its original purpose was to finance integration and development among Andean countries.
CAF later expanded its membership and regional reach, becoming a major multilateral lender for infrastructure, transport, energy, water, climate action, and social development. In 2023, it adopted the name Development Bank of Latin America and the Caribbean to reflect its wider geographic role.
CAF is often confused with the Inter-American Development Bank. The IDB is a separate institution headquartered in Washington, D.C.; CAF is based in Caracas and has its own membership, capital structure, and lending programs.