The Development Bank of Latin America (CAF) approved granting a $137 million loan to Ecuador’s largest banking institution, Banco Pichincha.

According to the regional organization, the funds will be used to “promote inclusive and sustainable growth in the Ecuadorian productive sector.”

The bank issued a statement on Friday, February 21, detailing that the loan is of type A/B, aimed primarily at “micro, small and medium-sized enterprises (SMEs) led by women and also at environmental sustainability projects.”

The funds authorized by CAF are expected to be used to finance companies that help promote productive activities for efficient energy management and the development of green businesses.

Antonio Silveira, CAF’s vice president of the private sector, said that “the operation is an example that it is possible to join forces to support the development of a sector that is strategic for the Ecuadorian economy, such as micro, small and medium-sized enterprises.”

The general manager of Banco Pichincha, Santiago Bayas, also spoke about the granting of the funds, indicating that “these financings reinforce the confidence of regional and global banks in Banco Pichincha, reaffirming our commitment to our clients and sensitive segments of society.”

M.Pino

Source: swissinfo

(Reference image source: Christina @ wocintechchat.com on Unsplash)

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The Development Bank of Latin America and the Caribbean, CAF, has a new member, after the incorporation of the Bahamas as a shareholder country.

The organization now has 22 member countries and is emerging as the “development bank with the greatest presence in the region, which will translate into greater support for green and sustainable development projects.”

The inclusion of the Bahamas as a new member occurs after completing all the requirements to become a “Series C Shareholder,” which will grant it access to “agile, flexible and innovative financing to support sustainable and inclusive development initiatives.”

According to Sergio Díaz-Granados, CAF’s Executive President, the decision was made after meetings with Prime Minister Philip Davis and other local authorities, aimed at providing more support for the development of The Bahamas and the entire region.

“As a development partner rooted in the region, we understand the unique challenges faced by small island developing states in the Caribbean and the urgency of addressing the effects of climate change, financial constraints and the need for greater investments in connectivity and resilient infrastructure. We are willing, as we have done with all of our shareholder countries, to collaborate with the government and other stakeholders to build a sustainable and prosperous future for The Bahamas,” Díaz-Granados stressed.

M.Pino

Source: CAF

(Reference image source: Planet Volumes for Unsplash+)

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The World Tourism Organization (UNWTO) and the Development Bank of Latin America (CAF) have announced in Fitur a cooperation agreement to promote and retain investment in tourism in the Latin American and Caribbean region.

The organizations will prepare a series of general tourism investment guidelines that will be applied in five countries on the continent: Ecuador, Uruguay, Panama, El Salvador and Barbados.

In addition, both institutions will cooperate to attract foreign direct investment towards sustainable tourism initiatives in Latin America, with the commitment to “accelerate economic recovery and foster sustainability and resilience throughout the sector.”

This was recognized by the Secretary General of the UNWTO, Zurab Pololikashvili, adding that the main objective of this alliance is, beyond promoting tourism investment in the region, “to direct it towards projects and initiatives that make the greatest difference.”

The executive president of CAF, Sergio Díaz-Granados, has highlighted that the Development Bank of Latin America is the first multilateral institution to sign the Glasgow Declaration on Climate Action in Tourism, and has ensured that this alliance with the UNWTO will allow it to promote a more sustainable and regenerative tourism in the Latin American region.

Source: dpa

(Reference image source: UNWTO, Europa Press)

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The Development Bank of Latin America (CAF) is in negotiations with officials of the Venezuelan Government in order to finalize the financing of different projects in the health, infrastructure and education sectors.

This was reported by Alejandra Claros Borda, general secretary of CAF, who assured that in the coming months the results of the technical team that is carrying out the negotiations will be available.

Claros Borda reiterated that according to the processes that the financial institution executes in all countries to grant financing, the technical team carries out the evaluations in the sectors of interest. In the case of Venezuela, these are, in principle, “infrastructure, electricity, education, health and everything that can be put together on an agenda, as is done with all countries.”

Educational discrimination

According to the CAF Secretary General, the difficulties presented by the countries of the region are very similar. However, the problems that the educational sector has been presenting are worrying because “it is a silent crisis that is not currently being talked about.”

The crisis in the education sector is greater because “education is being implemented through technological equipment and most of the population does not have access to it, so we are living in a time of educational discrimination, but not because of the systems, but because a reality has put us on that.”

The objective of the Development Bank of Latin America is to contribute to the economic reactivation of the region, improve digital transformation and assume gender equality in each one of the projects to be developed.

M. Rodríguez

Source: eluniversal.com

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