![US$300 million agreement for natural disaster response signed with Peru US$300 million agreement for natural disaster response signed with Peru](/media/3510/minhac-peru.gif)
US$300 million agreement for natural disaster response signed with Peru
- The agreement was signed by CAF President Enrique García, and Peruvian Minister of Economy and Finance Mercedes Aráoz at the Third Meeting of Finance Ministers of America and the Caribbean
- The contingent financing covers execution of works for rehabilitation and reconstruction of damaged public services and infrastructure
García said the agreement was due to the fact that Peru is constantly exposed to natural phenomena which pose a threat to the safety of the population and infrastructure development, García said. He added that the facility would provide immediate financing when this type of emergency occurs in the future. The funds can be used to rehabilitate critical public services, and later for final reconstruction works.
"This operation is part of our CAF policy of supporting member countries in their preparation for possible risks which are so common today. I would like to reaffirm our commitment to Peru and say we are very satisfied that in the past five years we have approved over US$6.20 billion for the country and already this year about US$900 million in programs and projects for infrastructure, social development, support for small- and medium-sized enterprises, with all the development agenda the country is implementing," he said.
Minister Aráoz said this was a "special facility" granted by CAF, which could allocate funds rapidly to help Peru in case of emergency and also for reconstruction work.
"This facility, which a financial institution of such prestige has granted us, is important because it will be the model for other countries’ structures for managing risks. I want to thank CAF because with this funding we are adopting a clear policy of prevention and preparation for an emergency," he said.
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)