CAF’s Annual Report 2025 provides an overview of the institution’s performance in an international context marked by high uncertainty, geopolitical tensions, fragmentation of global trade, and growing climate challenges. With a record level of approvals totaling USD 18.668 billion, the report highlights milestones such as the acceleration of green financing, which reached 44% of the total approved, and the commitment to invest USD 40 billion in climate action by 2030. The report also highlights the dynamism in capital markets, with 37 bond issuances totaling USD 8.262 billion in 14 currencies, including the first sustainable bond, the first resilience bond, and the first hybrid capital issuance in the institution’s history. CAF also deepened its geographic expansion with the addition of Antigua and Barbuda and Grenada as shareholder countries and the conversion of Barbados to full membership. Overall, the document reflects a year of accelerated progress toward sustainability, with decisive advances in regional integration, resource mobilization, human development, and climate leadership.