JBIC of Japan grants a new loan to CAF for USD 90 million to help with the health emergency in Latin America
For more than 4 decades, both institutions have shown their commitment to work together for the social and sustainable development of the region.
Japan Bank for International Cooperation - JBIC, granted, a new long term credit line for USD 90 million to CAF -development bank of Latin America- for the purpose of supporting their public health systems and protecting the most vulnerable in Latin American region in the wake of the pandemic of COVID-19.
Projects in Latin America that are aimed at supporting public health and hygiene systems are to be part of this loan, if they help the public health systems to prevent and mitigate the negative effects in the most vulnerable and affected people in the region.
In the last 10 years, this is the fourth loan signed by JBIC and CAF for a total of USD 690 million, aimed at supporting green projects and sustainable development in Latin America. The first agreement was signed in 2011 for an amount of USD 300 million, the second agreement was signed in 2016 for an amount of USD 100 million and the third agreement was signed last year for an amount of USD 200 million. These resources have been used to finance large-scale projects and programs in the region for renewable energy and sustainable transportation projects.
The impact of this type of credit lines at the sustainability level for the region is relevant since they seek to finance projects that are well structured and comply with the best environmental and social standards, in order to make them more viable. With this new line of credit, CAF is not only catalyzing resources from Japan for the benefit of the region; but also, diligently directing resources to attend the emergency unleashed by the pandemic in the region.
The relationship between JBIC and CAF began in 1975 and since then the cooperation has been deepening and focusing on supporting the social and sustainable development of Latin American countries.
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