Participation in French financial institution favors private investment in Latin America
- CAF acquires equity interest in Proparco in an effort to broaden the range of action of the two institutions in the region.
- Proparco, as the financial arm of the French Development Agency (AFD), promotes private investment in over 90 countries.
The share acquisition was subscribed in Paris by CAF President & CEO Enrique García, and Proparco CEO Etienne Viard.
During the signing García said "this transaction opens new and important opportunities for strengthening business in the private sector in the region, which will lead to increased flows of finance and investment and attract more capital into key sectors of the economy."
As the financial arm of the French Development Agency (AFD), Proparco promotes economic and social progress in over 90 countries. "In the past two years, 20% of approvals have related to operations in Latin America, reflecting the region’s dynamism and the great opportunities which the development of our activity in Latin America has opened for Proparco," Viard said.
Under the agreement, the two institutions will co-finance projects; collaborate in key areas for development such as regional integration, health and education, food security, climate change and microfinance; implement innovative financial mechanisms and offer advisory services, and coordinate cooperation initiatives with international financial institutions.
CAF's more recent content
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
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.