Panama joins the CAF

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.

Tuesday, July 22, 2008

This, together with the 25 million dollars it invested in 1997, will bring its total investment to 195 million dollars, as well as guarantee capital of an additional 36 million dollars.
The CAF is a multilateral financial institution whose mission is to support sustainable development in shareholder nations, as well as regional integration.
So far, 17 nations from Latin America, the Caribbean and Europe have signed on, along with 16 private banks in the Andes region.
The head office of the CAF is in Caracas, Venezuela, and it has offices in La Paz, Bolivia; Brasilia, Brazil; Bogota, Colombia; Quito, Ecuador; Lima, Peru; and Madrid, Spain.

More on this topic

CAF Will Open Regional HQ in Panama

October 2009

The announcement was made by Enrique García, president of CAF, the Andean Development Corporation, while visiting the country.

From the Presidency of Panama: "With the installation of this office in Panama, CAF's financial and technical support for our country will increase. It will also be a complement for the International Banking Center".

Panama: $1 Billion from CAF

October 2009

The Andean Development Corporation (CAF) is offering the country a credit line for $1 billion, in order to fund infrastructure projects.

This credit line is for the next five years, reported Omar Castillo, budget director at the Ministry of Economy.

Manuel Luna writes for Laestrella.com.pa: "CAF has already disbursed $54 million for the Metro Secretary.

$210 million credit for National Bank of Panama

December 2008

The Andean Development Corporation granted the loan to "strengthen foreign trade" in the country, the multilateral organization reported today in a release.

"This approval is contained with the action program of the Corporation to deal with the current international financial situation," according to the document.

Guatemala to join the Corporación Andina de Fomento

July 2008

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.

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.

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