![CAF announces US$4.50 billion financing for Peru CAF announces US$4.50 billion financing for Peru](/media/29228/alangarciayenriquegarcia.jpg)
CAF announces US$4.50 billion financing for Peru
García said, "CAF confirms its commitment to the development of Peru, emphasizing its willingness, subject to presentation of specific programs and projects, to grant Peru finance for around US$4.50 billion for the public and private sectors, for infrastructure projects and social development." He added that the SMEs would continue to receive support from CAF to strengthen the sector as the engine of Peru’s economic growth, and all the region.
García said there was an understanding to achieve higher rates of economic growth, which was less volatile and more participative, where the benefits of the growth reach most people. "We have agreed to send missions, very early in your administration, after the sectoral authorities have been appointed, with the objective of designing and putting through an action program for the next five years," he added.Considering that Peru has achieved a notable level of stability in the macroeconomic area, CAF is interested in strengthening public policies and the decentralization process. Along these lines, a US$400-million contingent line of credit was recently granted which favors the debt reprofiling strategy and fiscal sustainability.
CAF will concentrate its priority action in the following areas:Economic infrastructure: actions will be taken to narrow the infrastructure gap, mainly but not exclusively in three sectors: transport including mass transport, electricity, and telecommunications to provide the country with the appropriate logistical platform for improving competitiveness.
To strengthen these aspects, CAF will continue to give priority to integration processes by financing projects related to the South American Development Hubs (transport, energy and telecommunications) which concern Peru through the IIRSA initiative. The Corporation will also continue to support the border integration processes (CEBAF Bolivia-Peru, Ecuador-Peru Binational Fund).Competitiveness, productive sector and MSMEs: In this area, priority will be given to actions that promote foreign trade, improve support infrastructure for production, and strengthen micro-, small- and medium-sized enterprises.
García also held meetings with high-level government authorities, including Pedro Pablo Kuczynski, president of the Council of Ministers; Fernando Zavala, minister of Economy and Finance; and Cecilia Blume, adviser to the President of the Council of Ministers. The president of the multilateral development bank also met with leaders of the main political parties and movements to exchange ideas on the need to protect the governance of the nation, maintain macroeconomic stability, and open spaces for action to obtain results in reducing poverty and social inequality.CAF's more recent content
![CAF, JICA and Sicredi join forces to support women and rural producer CAF, JICA and Sicredi join forces to support women and rural producer](/media/4669796/foto_sicredi_divulgação_310724.jpg)
CAF, JICA and Sicredi join forces to support women and rural producer
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)
CAF-FAO: Digitization project for agribusiness with repository launch
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)