Trinidad Finance Minister to visit CAF headquarters
On completion of the next period of negotiations, Trinidad and Tobago will become the first Caribbean nation to subscribe to CAF capital.
This type of share (series "C") will stimulate commercial relations between partner countries, promote foreign investments, technology transfer, start up of joint ventures, along with participation of business sectors in international markets.
Relations with the Caribbean
During the year, CAF signed institutional and commercial agreements, organized a Venezuelan-Caribbean business round and promoted the use of various lines of credit granted to Royal Bank of Trinidad and Tobago Limited, Central Bank of Barbados, Century National Bank Ltd of Jamaica and Trinidad and Tobago Oil Company Oil Co. (PETROTRIN).
These lines, for a total of US$23 million, are used to finance foreign trade operations which Caribbean countries undertake with any member nation of the Andean Group or with third countries provided the exported product contains at least 50% of inputs from the Andean countries.
To date, several commercial transactions have been negotiated, mostly in the manufacturing, chemical and food sectors.
These credit facilities are opening up an important market for business between the two areas at commercial and investment level, together with an active exchange of information on the potential available.
CAF's more recent content
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The amount represents the largest international facility ever undertaken by Sicredi, with the involvement of four internationally renowned entities: Banco Finantia, BNP Paribas, Eco.business Fund, and Sumitomo Mitsui Banking Corporation (SMBC). The funds raised can also be used in regions with a Human Development Index below the national average.![CAF-FAO: Digitization project for agribusiness with repository launch CAF-FAO: Digitization project for agribusiness with repository launch](/media/4669830/caf-fao.png)
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The Food and Agriculture Organization of the United Nations (FAO), CAF -development bank of Latin America and the Caribbean-, the Ministry of Agriculture, Land and Fisheries and the Tobago House of Assembly celebrated the successful completion of the “Digitization and Innovation for the Competitiveness and Sustainability of the Agribusiness Sector in Trinidad and Tobago” project. The closing ceremony, that took place on the 29th of July, marked a significant milestone in the country's efforts to modernize and enhance the agricultural sector.![CAF recognizes Panama's water potential in the face of climate change CAF recognizes Panama's water potential in the face of climate change](/media/4669780/2_cuencas_hidro_caf_.jpg)