The President of the Development Bank of Latin America and the Caribbean, Sergio Díaz-Granados, announced on Monday an immediate $550 million loan to provide liquidity to Bolivia.

The news was communicated directly to the new president of the South American nation, Rodrigo Paz Pereira, as the “first concrete operation of the Economic Recovery Support Program (PAREC).”

 The president of CAF stated: “We want to support the new government in transforming structural challenges into concrete opportunities for sustainable growth, strengthening macroeconomic stability, improving regional connectivity, and prioritizing the well-being of millions of Bolivians.”

With this loan, the multilateral institution becomes the first to present a concrete assistance plan to the country under the new government, which took office on November 8.

Díaz-Granados clarified that the funds will ensure compliance with urgent financial commitments and “generate certainty in the implementation of the government’s economic program.”

This loan approved for Bolivia is part of a larger package of up to $3.1 billion, planned for the next five years and subject to approval by the CAF Board of Directors.

These initiatives are based on four pillars: “macroeconomic stabilization, national and regional integration, well-being and social inclusion with a gender focus, and environmental sustainability and climate action.”

M.Pino

Source: xinhuanet

(Reference image source: Matheus Oliveira on Unsplash)

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La entrada CAF approves a $550 million loan for Bolivia apareció primero en Bitfinance.

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

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La entrada Bahamas joins CAF as a shareholder country apareció primero en Bitfinance.

The executive president of the Development Bank of Latin America (CAF), Sergio Díaz-Granados, held a meeting with the president-elect of Paraguay, Santiago Peña, in which he reaffirmed the commitment of the institution he presides over to the country’s sustainable development.

After said meeting, Díaz-Granados expressed that CAF is “ready” to work closely with Paraguay, promoting initiatives that promote equity, prosperity and regional integration.

For his part, Peña focused on the “big projects” that he will promote during his term, which will begin on August 15, in which he intends to have the support of the multilateral bank to generate development and bring prosperity to Paraguay.

Paraguay has been a full member of CAF for more than twelve years, after becoming a full shareholder in December 2008. Since then, the country has received different loans from the entity to advance in aspects such as regional cohesion or the improvement of the infrastructure network.

A total of 18 Latin American countries are part of this body, to which Honduras has joined this week, after its Parliament ratified its accession.

K. Tovar

Source: Notiamerica

(Reference image source: CAF/Europa Press)

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La entrada CAF will work “closely” with the new president of Paraguay apareció primero en Bitfinance.

The Development Bank of Latin America (CAF) and the United Nations Economic Commission for Latin America and the Caribbean (Cepal) signed a Memorandum of Understanding with the aim of strengthening cooperation between both organizations and promoting development and economic recovery and sustainable development of Latin America and the Caribbean.

The signing took place within the framework of the CLXXVII CAF board meeting, which is taking place this week in Santiago de Chile. The president of the entity, Sergio Díaz-Granados, stressed that both organizations seek the social and economic development of the region and with this agreement they seek to “strengthen” cooperation to carry out initiatives “that benefit the entire region.”

For his part, the executive secretary of ECLAC, José Manuel Salazar, stressed that this search for synergies occurs at a time when the region is being “hit” by a sequence of crises that is having serious effects on a large part of the region. of the population.

“The situation compels us and both institutions are committed to joining efforts to benefit our region”, he said.

The Memorandum contemplates the exchange of information and knowledge between both organizations, the development of joint events and the development of an Annual CAF-Cepal Conference, as well as the implementation of research activities and collective publications or the organization of training experiences.

Source: dpa

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La entrada CAF and ECLAC seek to strengthen the Latin American economy apareció primero en Bitfinance.

The Development Bank of Latin America (CAF) issued a five-year bond for an amount greater than 500 million dollars and a coupon of 2.375 %, as reported in a statement, with which it plans to promote the economic reactivation of Latin America.

The institution highlighted the good reception of this movement among investors, especially in a market “volatile due to the rise in international interest rates.”

“Once again we appreciate the trust and interest of investors to continue with the strategy of being the Green Bank, of economic reactivation and sustainable development of Latin America and the Caribbean,” said CAF Executive President Sergio Díaz-Granados.

The highest representative of the organization highlighted that these resources from international markets and at competitive rates allow CAF to continue financing strategic projects that promote integration and economic growth to improve the well-being of Latin American and Caribbean people.

Pension fund managers, central banks, commercial banks and public institutions have led the orders. The agents in charge of the transaction were BNP Paribas, Goldman Sachs, Barclays and BBVA.

This second placement of bonds by CAF adds to the recent equity capitalization by its member countries, as well as the increase in the credit rating by the Standard & Poor’s agency and the improvement in Fitch’s outlook during the first half of the year.

K. Tovar

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Source: Europapress

La entrada CAF has 500 million dollars for Latin America apareció primero en Bitfinance.

The Development Bank of Latin America (CAF) has issued a five-year term bond for an amount of $ 650 million and a coupon of 2.25 %. The resources obtained by the organization will be used to support the economic and social reactivation of Latin America and the Caribbean. “We appreciate the confidence and interest of investors in CAF bonds to promote the economic and social reactivation of Latin America and the Caribbean,” said CAF Executive President Sergio Díaz-Granados.

Díaz-Granados explained that the resources raised come from international markets at competitive rates, which will allow promoting “the sustainable development of the region through the financing of strategic projects, the provision of technical cooperation and knowledge products.”

CAF applies different sources of financing

Likewise, the entity has highlighted that for more than three decades it has carried out a strategy of diversifying its sources of financing, through an uninterrupted presence in global capital markets, which has placed it in a “privileged position internationally.” This status, according to CAF, has allowed the multilateral bank to carry out the issue “in the midst of a volatile market due to the expectation of rising international interest rates.”

Fund managers, central banks, commercial banks and public institutions have led the placement orders. The agents in charge of the transaction have been BNP Paribas, Goldman Sachs, Morgan Stanley and Nomura.

Source: dpa

La entrada CAF releases $ 650 million dollars to recover Latin America apareció primero en Bitfinance.

At a meeting held in the Casa Rosada, Alberto Fernández, President of Argentina, and Sergio Díaz-Granados, Executive President of the Development Bank of Latin America (CAF) agreed on financing in the order of 2,670 million dollars for the development of social, technological and infrastructure projects.

The information was provided by Government House personnel, detailing that during the meeting the rulers analyzed “eight credits for more than 1,100 million dollars” that were signed on October 13.

According to government information, 300 million dollars will be allocated to the project to support the Argentine National Plan against Hunger “ALIMENTAR II”. More than 243 million dollars will be used to develop and manufacture the “ARSAT – SG1 satellite“, while 225 million will be allocated to the renovation of the “M” branch of the Belgrano railway.

The rest of the budget will allow to leverage a program to support the Strategic Plan for vaccination against COVID-19, financing for school infrastructure and modernization of the air traffic surveillance system.

The presidential information highlights that they also agreed a new financing for 570 million dollars for these last months of 2021 and an additional 1,000 million dollars in 2022 that will promote the integral development of the country.

For his part, the president of the CAF, Díaz-Granado, thanked the Argentine Government for the “approach it has given to the use of this multilateral bank”, highlighting that the organization seeks to work “hand in hand with science and technology, focused on people.”

M. Rodríguez

Source: espnol.cgtn.com

La entrada CAF grants financing for projects in Argentina apareció primero en Bitfinance.

The Executive President of the Development Bank of Latin America (CAF), Sergio Díaz-Granados, and the Minister of Finance of the Dominican Republic, Jochi Vicente, have signed an agreement for the incorporation of the country as a full member of the multilateral organization. The objectives of this movement are to promote the well-being of the population, the sustainable development of the country and the progress of the Caribbean.

With the signing of this agreement, the Dominican State will have greater voting power in the governance of the institution, access to more long-term financial resources and non-reimbursable cooperation funds as a mechanism to accompany public policy decisions. “With this decision we seek to have a full presence in this important body, which offers many benefits for the country such as technical assistance and financing under favorable conditions for investment projects that we have identified as priorities,” said the Minister of Finance of the Republic. Dominican.

For his part, Sergio Díaz-Granados has highlighted that the signing of the agreement is a great step that means “a consolidation in the Caribbean, which will imply that CAF will be able from the Dominican Republic to address strategic issues for the rest of the region and in this way it fulfills the purpose of internationalization that it has.” He added that the greatest interest is for CAF to partner the Dominican Republic in its commitment to transformation and to achieving the objectives of the 2030 agenda for sustainable development.

The Dominican Republic joined CAF as a Series ‘C’ shareholder in 2004. Since then, the institution has promoted various initiatives and projects aimed at collaborating with national development plans, the most recent being the Aqueduct Expansion Project Oriental, Salinity Barrier and Transfer to Santo Domingo Norte, to be executed by the Santo Domingo Aqueduct and Sewerage Corporation (CAASD), as well as the delivery of non-reimbursable resources for the Emergency Support Program generated by Covid-19.

Currently, the institution also supports with technical assistance the General Directorate of Public-Private Partnerships (DGAPP) and the Santo Domingo Aqueduct and Sewerage Corporation (CAASD) for the strengthening of their capacities and the structuring of projects.

With the progressive incorporation of Caribbean countries into the institution, CAF will continue to promote Latin American integration, as well as the sustainability and transparency it guarantees in the execution of economic and social infrastructure projects in its member countries.

Source: dpa

La entrada Dominican Republic becomes a full member of CAF apareció primero en Bitfinance.

Colombian Sergio Díaz-Granados assumed the executive presidency of the Development Bank of Latin America (CAF) with the aim of promoting the economic and social reactivation of the region.

In a ceremony held at the headquarters of the organization located in Caracas, which was attended by the executive vice president of Venezuela, Delcy Rodríguez; the Venezuelan Foreign Minister, Félix Plasencia; and other authorities, Díaz-Granados stressed that his priority in the next 100 days in office will be to promote the economic and social reactivation of Latin Americans.

“We are challenged by the health crisis, economic reactivation and recovering the lost time of our generation in education. These years have been critical for 50 % of young people in Latin America, and if we do not correct this soon, we will be condemning them for the rest of their lives”, he said.

Likewise, the former Colombian Minister of Commerce added that CAF has the opportunity to strengthen regional value chains and make commerce “a source of income and employment.”

The regional development agenda set by Díaz-Granados also includes working to make CAF the green bank in Latin America, through investments that reach the region that have sustainable growth and the circular economy as their objective. Likewise, the agency’s management will grant greater financing to projects in environmental, forestry, water, climate, waste management, energy efficiency and sustainable agriculture, among others.

Another strategic axis of Díaz-Granados’ mandate will go through deepening support to the private sector to increase productivity and job creation, along with cross-cutting policies for gender equity, inclusion and diversity.

The new executive president of CAF, Sergio Díaz-Granados, is a lawyer and specialist in government and finance from the Extemado de Colombia University. Among other positions, throughout his career he has served as Minister of Commerce, Industry and Tourism of Colombia, Vice Minister of Business Development and Chairman of the boards of directors of Bancoldex and Procolombia.

K. Tovar

Source: El Heraldo

La entrada CAF announced its new president apareció primero en Bitfinance.