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CAF allocated over 13 billion USD to boost development in Latin Ameri

CAF, fondos, desarrollo

CAF allocated over 13 billion USD to boost development in Latin Ameri

Caracas, Dec 30 (Prensa Latina) The development bank of Latin America (CAF, in Spanish) has approved a total of .2 billion to finance development initiatives in Latin American and Caribbean countries during 2021.
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The institution estimates that the impact of these approvals turns, for example, into more than 2.5 million people having new or improved drinking water or sewerage systems. Approximately 500 kilometers of sewerage networks will be built; and more than one million people will benefit from climate vulnerability reduction projects.

Twenty-nine percent of the fundings, around US$3,795 million, have been earmarked to respond to the crisis generated by Covid-19, including health emergency and support for fiscal consolidation, an aspect the health crisis has significantly affected.

In turn, 26.9% of the loans, some US$3.555 billion, have been allocated for economic reactivation, especially in energy, transport and telecommunications infrastructure.

In addition, through the productive and financial sector, 5,856 million have been approved for public and private enterprises, as well as equity investments and participations in investment funds.

During the COP26 climate summit in Glasgow, Scotland, the agency announced that over the next five years it will mobilize US$25 billion to promote green growth in the region. This means that its green portfolio will increase from 24% in 2020 to 40% in 2026.

CAF (Corporación Andina de Fomento, in Spanish) is headquartered in the CAF Tower in Caracas, Venezuela. In addition, it has offices in Asuncion, Bogota, Brasilia, Buenos Aires, La Paz, Lima, Mexico City, Madrid, Montevideo, Panama, Port of Spain and Quito.

The institution’s comprehensive development agenda promotes, through the offer of financial instruments and knowledge services, the promotion of Latin American growth to reduce productivity gaps with respect to high-income economies within a framework of environmental sustainability.

Nearly 20 Latin American and Caribbean countries actively take part in it, as well as Spain, Portugal and 13 Latin American private banks.

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