CAF: USD 1.5 billion for the construction of peace in Colombia
CAF, Development Bank of Latin America, offered significant financial resources and technical assistance to the Republic of Colombia for the construction of peace and the generation of better opportunities
Enrique Garcia, CAF's Executive President, celebrated the bilateral cease fire agreement between the Government of the Republic of Colombia and the FARC-EP, and announced that the Latin American financial institution intends to approve USD 1.5 billion in favor of the country during the 2016-2018 period. The objective is to finance projects that generate the conditions and opportunities that strengthen peace and contribute to close the development gap.
With the provision of these funds, CAF joins the efforts of all the sectors of the Colombian society to achieve a lasting peace and harmonious coexistence that promotes economic and social development that is efficient, inclusive, and environmentally sustainable.
Enrique Garcia stated, "The agreements represent an unequalled opportunity for Colombia and to strengthen peace and progress throughout the region. CAF is on Colombia's side to contribute its experience and financial resources for areas that are key for its growth. In this respect, in this new stage the country will be able to face the main challenges of development with greater force: from productive transformation, reduction of inequalities and poverty, to the closing of the gaps between rural and urban areas, modernization of its infrastructures, and institutional strengthening".
CAF's strategic lines of work for the next two years include financing of tertiary roads to improve the connectivity of the territories affected by the conflict; provision of irrigation and drainage service to improve the productivity of the farmlands; support for the construction of educational infrastructure; strengthening of productive chains; financing of mobility and logistics projects in cities; development of leadership capacities and governance at a municipal level; and the training of new leaders.
The funds, of up to USD 1.5 billion, will be implemented through credit operations for the public and private sector and technical assistance. CAF will play an important catalytic role by attracting resources that contribute with the peace building process through sustainable development.
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