CAF approves USD 125 million loan for Salvador de Bahia, Brazil

The Board of Directors of CAF - development bank of Latin America and the Caribbean approved a USD 125 million loan for the city of Salvador, the capital of Bahia state, Brazil. This amount will be allocated to the city's Social and Territorial Inclusion Program, which will directly benefit more than 900,000 people, including residents and tourists, with mobility solutions, professional training, and a digital services strategy.

"Salvador is one of the main capitals of Latin America and the Caribbean, and we are very honored to be able to collaborate on its development with a project that has both body, with advanced mobility infrastructure, and soul, with actions for job training and population care, improving the quality of life with better jobs and income," said Sergio Díaz-Granados, executive president of CAF.

The program aims to improve the quality of life for the population, reducing social and gender inequalities. The program includes funding for the first urban cable car system financed by CAF in Brazil, which will connect the Manoel Dendé community with the local metro system, as well as a comprehensive job and income generation program expected to provide professional training to at least 40,000 people.

In a historic Board meeting in Lima, Peru, CAF approved 14 loans for 9 countries (Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, El Salvador, Honduras, and Peru), totaling USD 2.74 billion, which will help improve social inclusion, modernize infrastructure, increase competitiveness, and accelerate climate action, among others. This record number of approvals shows CAF's commitment to doubling its portfolio by 2030.

Additionally, the institution continues its expansion in the Caribbean with the addition of Antigua and Barbuda (the fourth Caribbean country to join this year) and is on track to become the development bank with the largest presence in the region.