Attracting Asian funds for Latin American development

(Tokyo, June 8, 2011).- "CAF plays a catalytic role in attracting funds from other regions into Latin America which helps to stimulate the economies of our countries to achieve higher growth and productivity," said Enrique García, president & CEO of CAF - Latin American development bank –announcing that a group of Asian banks had approved a US$163 million syndicated loan for the financial institution.

The operation was structured by Sumitomo Mitsui Banking Corporation (SMBC) and led by the Development Bank of Japan (DBJ) with the participation of Taiwanese banks of the standing of Bank of Taiwan, Mega International Commercial Bank, and Land Bank of Taiwan.

García underscored the synergy created among the Asian banks with the objective of granting this type of facility to a Latin American development institution, with the special involvement of banks in Taiwan which expands and diversifies the investor base.

This is the second approval of this type granted to CAF with the participation of Japanese and Taiwanese banks.

"It is a faithful reflection of the confidence CAF has earned on Asian markets," García said, adding that CAF has become an effective bridge between Latin America and Asia.

Representatives of the Asian banks welcomed the support given to CAF which facilitates access to the global syndicated loan market and diversifies its sources of financing in Asia.

This new operation reflects the capacity of the participating Asian banks to offer their customers access to a broad investor base through their extensive international network, and their commitment to deepening the financial ties between Asia and Latin America.