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Multilateral development banks (MDBs) have helped to face the complex reality in Latin America, especially during the recovery after the covid-19 pandemic. While total funding from multilateral institutions in 2021 exceeded the 2025 climate finance targets set at the UN Secretary-General’s Climate Action Summit, larger challenges like those facing the region (and the world) require additional commitment from these institutions and its member countries s. Portugal has the opportunity to play a role in this important mission, namely through its participation in the two main multilateral development banks in Latin America: the Inter-American Development Bank and CAF – Development Bank of Latin America and the Caribbean… To this end, it is imperative to increase shareholder capital and for the Ministry of Foreign Affairs to continue strengthening relations with Latin American countries.