The current context of cascading crises affecting both the world and the region presents major uncertainties and challenges to the prevailing development model in Latin America and the Caribbean, which is currently caught in three interrelated traps: (a) the growth trap, (b) the inequality trap, and (c) the trap of limited institutional capacity and ineffective governance. A transformative approach to the development model, as proposed by ECLAC, identifies territorial inequalities as a critical issue that must be addressed through approaches that consider different scales or levels of government (multi-level), a diversity of social actors (multi-stakeholder), the integration of various sectors (multi-sectoral), and different timeframes (short, medium, and long term). This places governance, social dialogue, and future-building at the center of concern, under a framework aimed at strengthening a range of capacities—technical, operational, political, and foresight—as advocated by ECLAC.