In a new rapprochement with the Community of Latin American and Caribbean States (CELAC), the EU decided on backing up a plan to preserve the Amazon, coming up with the idea of coordinating the financial contributions and the amounts be invested as foreseen in its Global Gateway program.

ECOFIN is currently promoting in Santiago de Compostela, Galicia, a ministerial meeting sponsored by Spain, in its capacity as biannual president of the community bloc, which also gives continuity to the CELASC Summit in Brussels past July.

The meeting was led by Nadia Calviño, Spain’s First Vice-President and Acting Minister of Economy, with the attendance of ministers or representatives of Finance and Economy of Latin America and the Caribbean.

EU members and institutions such as the European Investment Bank will coordinate €260 million already committed by Spain, Italy, Sweden, France, Germany and the Netherlands to curb deforestation in the Amazon.

Delegations from Argentina, Bahamas, Barbados, Bolivia, Brazil, Chile, Colombia, Costa Rica, Cuba, Dominican Republic, Ecuador, El Salvador, Guatemala, Haiti, Honduras, Mexico, Panama, Paraguay, Peru, St. Vincent and the Grenadines, St. Lucia, Suriname, Trinidad and Tobago, Uruguay and Venezuela took part in the meetings with the EU.

Sergio Díaz Granados, executive president of CAF-Development Bank of Latin America and the Caribbean, Christine Lagarde, president of the European Central Bank, and Ilan Goldfjan, head of the Inter-American Development Bank (IDB) also took part in the meetings.

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