CAF -development bank of Latin America and the Caribbean- approved USD 2.74 billion for Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, El Salvador, Honduras and Peru, which will help boost the energy transition, the resilience of strategic ecosystems, social well-being, physical and digital infrastructure, productivity and resilient territories.

In addition, the organization continues its expansion process in the Caribbean with the incorporation of Antigua and Barbuda, which becomes the fourth Caribbean country to join CAF in 2024. Last March, Bahamas, Dominica and Grenada began the process of joining CAF as members with Series “C” shares, which will give them access to the technical, financial and knowledge services offered by the organization to its shareholder countries to improve the quality of life of their citizens.

CAF's new positioning in the Caribbean is giving a new dimension to an institution created by Bolivia, Chile, Colombia, Ecuador, Peru and Venezuela, which, 56 years later, has 21 shareholder countries and is one of the main sources of multilateral financing in the region.

“The Board of Directors at Lima was historic. The record number of credit approvals, the incorporation of Antigua and Barbuda, and the signing of humanitarian aid for Barbados, Ecuador, and Honduras reflect our capacity to promote sustainable development that improves the quality of life of Latin Americans and Caribbean people. All of this is a sign of CAF's commitment to double its portfolio by 2030, something that will allow us to contribute even more to the development plans of our member countries and accelerate regional integration,” said Sergio Díaz-Granados, CAF's executive president.

These are the operations approved by the Board of Directors:

Argentina: CAF will partially finance the Territorial Balance and Development Program of the Province of Neuquén, in Argentina, which seeks to promote balanced territorial development, which benefits approximately 730,000 people by increasing access and improving basic services to face climate challenges and the strengthening road connectivity.

Bolivia: CAF approved a loan for the "Mi Puente" program, which will transform the lives of more than 170,000 Bolivians through the construction of 300 strategic bridges.

Brazil: CAF approved a loan for the city of Salvador, capital of the state of Bahia, Brazil, which will directly benefit more than 900 thousand people, including residents and tourists, with mobility solutions, professional training and a digital services strategy.

Colombia: CAF approved a loan for the territorial development of Colombia, which seeks to strengthen local institutions, promote environmental governance, protect biodiversity, encourage citizen participation and improve territorial management.

Chile: CAF approved two loans in favor of Chile. The first is for the State Railway Company (EFE) of Chile and will contribute to financing the expansion and modernization of the country's railway network. The second is the facility for Banco Santander Chile, that will support the financing of green and sustainable projects in various modalities.

Ecuador: USD 250 million to promote youth employment, gender equality, inclusion, diversity and social protection; USD 150 million for A/B loan to finance MSMEs led by women, green businesses and energy efficiency projects in favor of Banco Pichincha.

El Salvador: CAF supports the leap in air and digital connectivity in El Salvador
with credits for USD 465 million. The first project is aimed at the modernization, strengthening and construction of aeronautical infrastructure; while the second consists of the deployment of the first submarine cable aimed at improving the national digital infrastructure and reducing international connectivity costs.

Honduras: The first loan granted by CAF to Honduras seeks to recognize and support policies, regulations and institutional changes for the empowerment of women and the social inclusion of people with disabilities, indigenous people and Afro-Hondurans.

Peru: CAF will support the improvement of 9 of the 15 road corridors planned within the second phase of the Road Infrastructure Program for Regional Competitiveness (PROREGIÓN II), benefiting more than 2 million inhabitants of the departments of Arequipa, Cajamarca, Cusco, Huánuco, Ica, Lima and Ucayali

Humanitarian aid

At CAF's Board of Directors, humanitarian aid was also signed for Barbados, Ecuador and Honduras, reflecting the institution's agility to support its member countries in dealing with the effects of natural disasters.

In the case of Honduras, it is USD 250,000 in emergency humanitarian aid to mitigate the damage caused by the fire at the Roatan Hospital, which will help ensure the continuity of medical services to the affected population. For Ecuador, CAF will also allocate USD 250,000 to support the actions of the Ecuadorian Government to respond to the emergency situation in the areas affected by the presence of heavy rains. Likewise, the Government of Barbados will receive USD 250,000 to alleviate the effects of the hurricanes.

Signing of credit agreements

During the institution's Board of Directors, six credit agreements were also signed in favor of Ecuador, totaling USD 483 million:

Youth Employment, Gender, Inclusion, Diversity and Social Protection Program, PBL for USD 250 million, with the objective of promoting youth employment, gender equality, inclusion, diversity and social protection through public policies that strengthen gender equality in the workplace.

Integral Program for Productive and Social Development of the Province of Guayas: With an investment of $50 million, it will benefit 6,500 families and improve conditions for 25,000 inhabitants.

Integral Development Program for the Province of Pichincha (PRODEPI). The Autonomous Decentralized Provincial Government of Pichincha will receive US$41 million to implement social development policies that will benefit 300,000 people with new urban road infrastructure, irrigate 800 hectares, improve 20 km of rural roads, and provide 60,000 women with health and social services.

Road Connectivity Program for the Productive Development of Manabí (PROVIAMA). The Autonomous Decentralized Provincial Government of Manabí will receive US$43 million to promote productive development, which will benefit approximately 441,000 people by increasing trade, connectivity and tourism in more than 6 rural towns in Manabí.

Integral Program for Strengthening Urban Infrastructure. The Autonomous Decentralized Municipal Government of Guayaquil will execute a program with financing of US$49 million, aimed at improving the quality of life of more than 1,150,000 inhabitants directly and 5.8 million indirectly.

Integral Hydrosanitary Project - North Urban Zone of the Portoviejo Canton. With an investment of USD 50 million, the Municipal Decentralized Autonomous Government of Portoviejo will execute a comprehensive project that will improve the quality of life of approximately 153,000 inhabitants.