The EU has pledged 118 million euros in investment support for Latin America and Caribbean nations at the start of a two-day summit.
The European Commission says the combination of loans and grants and other financial instruments would focus on the transport, energy and environment sectors.
It is the second-ever EU-CELAC summit looking at issues affecting the EU, Latin America and the Caribbean.
The conference is being attend by some 60 leaders or senior government officials to tackle the issues of climate change, investment, and the Colombian peace talks.
The theme of the event this year is “Shaping our common future: working for prosperous, cohesive and sustainable societies for our citizens.”