A renewal of international cooperation is essential if more inclusive and sustainable development is to be attained for all the inhabitants of the region. In accordance with the concept of development in transition, elaborated by the Economic Commission for Latin America and the Caribbean together with the European Commission and the Development Centre of the Organization for Economic Cooperation and Development (OECD), this cooperation should be tailored to the specific needs of countries and seek to address structural development gaps, contributing to the generation of regional and global public goods. It should be a multilateral, multilevel type of cooperation involving traditional and new actors (horizontal, regional, South-South, North-South, South-North and triangular cooperation) and working with an extensive toolkit that includes, among other things, financing instruments, climate change funds, blended finance, debt for environment swaps and domestic resource mobilization. This would support knowledge-sharing, capacity-building and delivery of the transfers needed to break development deadlocks.