![New contribution to Latin American microfinance New contribution to Latin American microfinance](/media/3610/finanzas03-142.jpg)
New contribution to Latin American microfinance
- CAF approves US$5-million capital investment in Fondo BBVA Codespa Microfinanzas fund.
- The Fund creates opportunities for Latin American microfinance institutions to access finance in local currency.
CAF President & CEO Enrique García said that "the social problems of access to services such as health, education and financial services can and must be addressed by the private sector; this is why the Corporation supports private business initiatives which contribute to solving social problems as an economically efficient way of achieving economic growth with equity." He added that "the objective of this capital investment is to stimulate development of the Latin American microfinance sector and strengthen the commercial link between our region and Europe."
Currently CAF supports almost 40 institutions which serve microenterprises in 11 Latin American countries with total funds of over US$120 million.
Fondo de Inversión Libre BBVA Codespa Microfinanzas was set up with the objective of contributing to the development of the microfinance industry, through investment in debt instruments issued by Latin American microfinance institutions which demonstrate solidity and viability moving toward sustainability.
The Fund offers financing in local currency, which reduces risk by diversifying investments by term, country and currency; however, finance is also available in securities denominated in euros or US dollars. The support is not only for larger stronger entities but also for smaller ones which need support to continue growing and expanding. The leading promoters of the fund are Banco Bilbao Vizcaya Argentaria, SA (BBVA) and Codespa Foundation.
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)