CAF signed a capitalization agreement with the Uruguayan State

With the purpose of continuing to contribute to the development of the country, CAF -development bank of Latin America and the Caribbean- and the Uruguayan State signed a capitalization agreement, which must be ratified by the Legislative Branch of Uruguay.

With the signing of this capitalization agreement, Uruguay is expressing its solid commitment to CAF

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Sergio Díaz-Granados

“The signing of this capitalization agreement marks an important milestone in our relationship, an alliance that will strengthen the foundations for a more prosperous and sustainable future for the country and our region,” said Sergio Díaz-Granados, Executive President of CAF.

The organization committed to carry out its tenth asset strengthening with its shareholders and promote a capitalization of US$ 7,000 million, which will allow the portfolio to double by 2030.

With this, the institution will be able to deepen its role as a green bank in the region, as well as the economic and social reactivation of its member countries.

“With the signing of this capitalization agreement, Uruguay is expressing its solid commitment to CAF as a cooperative. This commitment is one of the factors most highlighted by the credit rating agencies that evaluate CAF and that allows it to raise resources in international financial markets under competitive conditions. This, ultimately, results in lower financing costs for the country,” explained Díaz-Granados.

Uruguay, as a full member, will have the possibility of benefiting from CAF financing and multiplying its project execution capacity, with agile response times and products that seek to adapt to its needs under competitive financial conditions.

In addition, you will be able to access more resources for non-reimbursable technical cooperation aimed at preparing feasibility studies to finance quality projects and support high-impact projects.

The signing of the agreement will also contribute to enhancing the generation of knowledge in the country, allowing CAF to focus its interventions on strategic issues such as environmental care, child poverty, protection of vulnerable populations, water security, coastal protection, flood and drought management, physical and commercial integration, road and railway infrastructure, energy transformation, among others.