Guatemala to join the Corporación Andina de Fomento
The Corporación Andina de Fomento, a group of partners that provides capital reserves, has announced that Guatemala will be joining as a full shareholder member.
Tuesday, July 29, 2008
Mexico and Costa Rica have been partners for several years. Shareholder companies must contribute capital reserves, and the corporation currently has 4.5 bilion dollars 2.865 billion euros) of share capital.
The financial institution announced the placement of $40 million in the local market, the first outlay by a multilateral in the country.
The announcement was made by Enrique García, president of CAF, the Andean Development Corporation, while visiting the country.
The Andean Development Corporation (CAF) is offering the country a credit line for $1 billion, in order to fund infrastructure projects.
Panama has become a full member of the Corporación Andina de Fomento (CAF), having signed an agreement in which it has agreed to invest 170 million dollars of capital.
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