Backing Latin American foreign trade

(Caracas, October 19, 2006).- The Andean Development Corporation (CAF) today announced a rotating line of credit for US$25 million in favor of the Latin American Export Bank (Bladex) to support foreign trade and promote the development of Latin America and the Caribbean.

CAF President & CEO Enrique García explained that the approval was part of the multilateral financial organization’s strategy to support Latin American and Caribbean banks in their efforts to promote trade in the region, opening the way for Latin American development. "Bladex’s mission is to offer integrated support for the region’s foreign trade, guaranteeing profitability and value creation for its shareholders, which is consistent with the CAF strategy of promoting sustainable development and regional integration, consequently we are granting this credit facility to the bank which will favor – in the end - our Latin American shareholders," Garcia explained.

Bladex President & CEO Jaime Rivera said "this credit facility is a tangible example of the close cooperation between the two financial institutions, which share a common interest in the welfare and integration of Latin America."

According to García, the line of credit will be used to finance operations of foreign trade, working capital, temporary liquidity requirements, and investment projects, as well as the issue and confirmation of letters of credit.

The approval is in line with the CAF business strategy, which seeks to increase and diversify its relations with the financial sector in the region. Both organizations maintain excellent business relations, which include assisting clients with cofinancing operations.

Bladex is a supranational bank founded by 23 central banks of Latin America and the Caribbean to assist foreign trade and contribute to the economic growth and competitiveness of Latin America. Based in Panama, its shareholders include central and commercial banks from the region, as well as international banks and private investors. For more information visit www.blx.com.