CAF approves seven loans for the economic recovery of Latin America

CAF approved the disbursement of 1,650 million dollars corresponding to seven loans destined to support the economic development of Latin America and the Caribbean, with Argentina, Brazil, Paraguay, Peru and Trinidad and Tobago as beneficiaries.

These operations are intended for strategic activities in the continent such as social development, water sanitation or digital transformation, among others. “The objective is to improve the population’s access to basic services such as water or natural gas,” explained the institution’s executive president, Sergio Díaz-Granados.

Argentina will receive a loan of 440 million dollars (431.4 million euros) to “promote” the economic, environmental and social recovery of the country. For its part, Brazil will receive 140 million dollars (136 million euros) as part of the increase in the revolving credit line of the regional bank BRDE.

In the case of Paraguay and Peru, they will receive 293.2 million euros and 635 million euros, respectively, to promote sustainable development. Finally, the loan to Trinidad and Tobago will amount to 117 million euros, with the aim of supporting digital transformation.

The executive president of the bank has highlighted his commitment to advancing in the economic reactivation of the region in an environmental key to provide solutions with which to overcome obstacles and generate opportunities “that improve the quality of life of Latin American and Caribbean people.”

Additionally, within the framework of the activities to commemorate the 25th anniversary of the incorporation of Panama as a shareholder of CAF, the subscription agreements for ordinary capital shares were signed for Chile and Costa Rica to become full members.

Source: dpa