32nd Meeting of Executive Committee Financing approved for integration projects
The meeting was attended by representatives of the five countries which form the Andean Group (Bolivia, Colombia, Ecuador, Peru and Venezuela) and chaired by CAF President & CEO Galo Montaño.
LOANS
This project was characterized by a broad sense of integrationist cooperation since execution of the works was awarded to the Venezuelan company Ingeniería, Petroleo y Gas SA. Of the total loan, the Venezuelan Investment Fund (FIV) contributed US$2.2 million as a loan to CAF to finance the project.
A second loan for US$1.04 million with multinational character was granted for a truly integrationist project “International Bridge over Rio San Miguel, Ecuador-Colombia Border" to be executed by the Ministry of Public Works and Communications (MOPC) of Ecuador. These works will improve the transport service for passengers and cargo between both countries, facilitating trade.
AGREEMENTS
Another agreement of the same type was approved for the Ecuadoran Ministry of Industry, Commerce, Integration and Fisheries (MICIP) for US$35,000 to finance base studies on specific areas of the Quito Protocol.
The Executive Committee authorized a loan with Banco Do Brasil (CACEX) which makes a US$30 million line of credit available to CAF for purchase of Brazilian goods and services.
Finally, the 19th issue of CAF bonds with a two-year term for US$30 million was authorized for placement with the central banks of CAF member countries.
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