The International Organization for Migration (IOM) and CAF – Development Bank of Latin America and the Caribbean have formed a new partnership to address migration challenges while harnessing the potential of migrants for sustainable and inclusive development in the region. The two organizations signed a technical cooperation agreement on September 23 during the 79th session of the UN General Assembly in New York.
IOM Director General Amy Pope emphasized that migrants can drive positive change and development, highlighting their contributions to local economies and communities. “Migrants bring skills, innovation, and unique perspectives that are essential for building resilient economies and vibrant communities,” she stated. This partnership with CAF aims to unlock the potential of migration to enrich societies around the world by working with development finance institutions.
The agreement focuses on several key aspects of migration management, such as strengthening local governments’ ability to handle migration, improving climate mobility policies, and analyzing the economic impact of migration in Latin America and the Caribbean. It also aims to promote dialogue on the economic integration of migrants, helping both the migrants and their communities thrive.
Sergio Díaz-Granados, CAF’s Executive President, called the alliance a major step toward understanding how migration can serve as a catalyst for regional development. He reiterated CAF’s commitment to working alongside local governments, civil society, and the private sector to create solutions that benefit both migrants and the communities they move between.
This cooperation builds on a Memorandum of Understanding signed in May 2023 and is aligned with global initiatives such as the Sustainable Development Goals, the 2030 Agenda, and the Global Compact for Safe, Orderly, and Regular Migration. The partnership aims to take a comprehensive approach to migration, addressing the broader social, economic, and environmental dimensions of migration management.