CAF launches $1B fund to shield Latin America from 'super Niño'

The Development Bank of Latin America (CAF) announced a $1 billion fund to mitigate the impacts of a potential 'super Niño' event, which could cost the region up to 2% of GDP. The fund aims to finance preparedness and response measures, though specific allocation and disbursement details remain unclear. This marks a proactive regional financial response to a climate-driven economic threat.