CAF doubles its investment in best integration infrastructure projects in Latin America
The board of CAF approved the second phase of the Regional Infrastructure Pre-investment Program (CAF-PPI), which will support member countries in the design, preparation and analysis of infrastructure integration projects for regional economic and social development to be prioritized by countries of the region. The 165th Session held in Mexico also approved transactions for Brazil, Paraguay and Trinidad and Tobago.
The commitment of CAF—development bank of Latin America—to improving the quality and availability of regional integration infrastructure projects was ratified once again with the approval by the Board of the second phase of the Regional Infrastructure Pre-investment Program (CAF-PPI), which, like the first stage, will total US$10 million.
Argentina, Bolivia, Chile, Panama and Paraguay sent the first requests to finance the design, preparation and pre-investment analysis for prioritized integration infrastructure projects in the sectors of energy, transport and telecommunications. The second stage is expected to respond to requests from other shareholder countries that have already expressed their interest.
“We are again offering our member countries all our experience in infrastructure projects and, in particular, the new proposal to articulate a pragmatic type of integration in the region through the creation of logistics corridors, which will yield clear benefits in cost reduction, time optimization, job creation, improved services, and a subsequent increase in productivity,” highlighted Luis Carranza, CAF executive president.
The 165th Session of the CAF Board held in Mexico City also approved transactions for $80 million for the “Urban, Social and Environmental Integration and Development Program of the Camaçari Municipality” in Brazil; a line of unencumbered stand-by credit with liquidity of $300 million for Paraguay; and $200 million for the “Comprehensive Program for Road Construction, Repair and Maintenance” in Trinidad and Tobago.
The road to the 50th anniversary of CAF began in Mexico, with a seminar on the future of governments in the digital age and the 50th General Shareholders’ Meeting. Since it started operations in 1970, CAF has financed projects for more than US$175 billion in its 19 member countries to promote sustainable development and regional integration.
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