CAF Issues Bonds to Support Education in Latin America for the First Time
The CAF-issued bonds will be exclusively aimed at supporting initiatives that foster access to education and improve its quality at all levels, as well as strengthen the relevance of education supply, promote social inclusion of the most vulnerable groups, and bolster productive transformation in the region.
In an effort to strengthen Latin America’’s human capital, productivity and competitiveness, CAF - Development Bank of Latin America has placed $140 million in 10-year bonds to support projects that promote education in the region. The notes were awarded to a Japanese investor.
"Obtaining financial resources at competitive rates to invest in a strategic, albeit precarious, sector with as much potential as education is good news for Latin America,” said CAF Executive President Luis Carranza. “We are very pleased with the investors' confidence in CAF's role as an ally in promoting sustainable development in the region.”
This is CAF's first bond aimed at education, with UBS acting as placing agent. The funds will go to projects aiming to advance education at all levels, while promoting the social inclusion of the area’s most vulnerable groups and bolstering the productive transformation in the region.
This decision is one of many bond issues by CAF involving specific subjects, such as water and green bonds, with the purpose of arming projects with high social and environmental impact in Latin America. In this way, the institution intensifies its resource diversification strategy, as well as reinforces its role as a catalyst for development by boosting international investment in the region.
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