CAF, Development Bank of Latin America, and REDIT, the Network of Technological Institutes of the Valencian Community, recently signed a collaboration agreement to promote business innovation and technological development in Latin America.

The agreement promotes the exchange and dissemination of information and methodologies; the generation of knowledge through research; the sharing of experiences amongst technology centres in CAF’s stakeholder countries; and undertaking training and dissemination activities to support SMEs in internationalization projects and accessing cooperation funds.

At the signing, CAF representative in Europe José Antonio García Belaúnde stressed that “this memorandum continues to contribute to building bridges between Spain and Latin America for better cooperation, and its purpose is to generate practical knowledge that will help to improve productivity in Latin American SMEs and also help to overcome the crisis generated by Covid-19”.

On his part, REDIT chairman Fernando Saludes underlined that “the Network of Technological Institutes of the Valencian Community has decades of experience in supporting SMEs and, thanks to this new collaboration being formalized today, our accumulated knowledge will serve to strengthen the business fabric and the quality of life of citizens in Latin American countries by consolidating production models based on knowledge, innovation and technology”.

The memorandum of understanding signed by CAF and REDIT is the result of both institutions’ interest in joining forces to promote cooperation amongst Latin American technology centres and generate knowledge through studies addressed to on industry and innovation.