CAF issued first bond for education projects in Latin America
The successful bond placement will be used exclusively for initiatives that increase access to education, improve quality at all levels and strengthen the relevance of educational offers, in order to promote the social inclusion of the most vulnerable groups and the productive transformation in the region.
In order to strengthen the human capital, productivity and competitiveness of the region, CAF - development bank of Latin America - issued its first social bond destined exclusively to education projects for an amount of USD 140 million with a 10-year maturity purchased by a Japanese investor.
"Obtaining financial resources at competitive rates for a strategic sector with as much need and potential as education is good news for Latin America. We are very satisfied with the confidence of investors in the role of CAF as an ally to promote sustainable development in the region", said Luis Carranza, the institution's CEO.
This is the first social bond of CAF intended for education, with UBS acting as arranger of the transaction. These resources will be allocated to projects that improve quality at all levels and strengthen the relevance of educational offers, to promote social inclusion of the most vulnerable groups and productive transformation in the region.
This placement is added to other thematic bond issues made by CAF, like water bonds and green bonds, destined to promote the funding of high social and environmental impact projects in Latin America. This way the institution reinforces its strategy of diversifying financing sources and its role as a catalyst for development by attracting funds to the region from different international markets, in order to boost the investments.
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