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Conference on Financing for Development closes in Cuba

Havana, May 17 (Prensa Latina) The Conference on Financing for Development closes in Cuba on Friday after bringing together international institutions, cooperation stakeholders, and government agencies to discuss innovative sources and initiatives.

During the second day of the event at the Melia Cohiba Hotel, three panels discussed innovative solutions to contribute to financing at scale to show new alternatives and diversify financing sources through mobilizing public and private capital.

The situation of Cuba and the alternatives for financing energy transition faced by the island in its change of matrix will also be analyzed.

In a final panel dedicated to the opportunities for green finances in Cuba, participants will show international experiences and practices for green finance, green banking, green/blue bonds, elimination of harmful subsidies, and bioeconomy.

Those issues generate a constructive dialogue to identify opportunities and challenges to implement and adapt those solutions to the Cuban context.

The meeting was convened by the Ministry of Economy and Planning (MEP), the Central Bank of Cuba (BCC), and the United Nations Development Program (UNDP), in partnership with the Ministry of Foreign Trade and Foreign Investment (MINCEX), the Ministry of Foreign Affairs (MINREX), and in coordination with the Central American Bank for Economic Integration (CABEI).

Other international financial institutions, including the Development Bank of Latin America and the Caribbean (CAF), national development banks in the region, international funds related to climate finance, foreign companies based in Cuba, and the United Nations System representatives, are attending the conference.