Partnership with Japan favors Latin American development
- CAF and the Japan Bank for International Cooperation (JBIC) signed a cooperation agreement to promote infrastructure and environmental protection projects.
- The synergy between the two institutions has mobilized about US$750 million in joint projects executed in Latin America.
During the signing of the agreement Enrique García highlighted the financial institution’s catalytic role as a bridge between Latin America and the rest of the world. "CAF has significantly strengthened relations with Asia, Europe and North America through agreements signed with the most important financial and development institutions in these regions, which has attracted new funds to finance projects in Latin America."
García also noted the importance of these agreements from the point of view of knowledge dissemination in the region. CAF is now considered a benchmark in Latin American development issues for the rest of the world.
CAF began its relationship with Exim Bank Japan (now JBIC) in 1975. Since then eight loan agreements have been signed for a total of approximately US$750 million for sustainable development projects in Latin America.
JBIC’s mission is to contribute to the sound development of Japan, the international economy and the community through loans and other financial operations: to promote imports and exports from Japan or similar economic activities; for the stability of the international financial system; and for social and economic development and economic stability in developing areas; in accordance with the principle of not competing with commercial financial institutions. More information www.jbic.go.jp / english
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