CAF and BBVA sign USD 200 million agreement to expand sustainable development portfolio

CAF’s Director of Institutional Financial Resources Gloria Gamero noted: “This agreement represents and reiterates the solid relationship we have with BBVA and its important support to our growth in the Latin American and Caribbean region.”

Jose Ramón Vizmanos, leader of BBVA’s Global Customers Unit, said: “At BBVA we are very pleased to collaborate with an institution as important as CAF in honoring its commitment to boosting growth of Latin American economies; especially with regard to sustainability, which is one of BBVA’s strategic priorities.”

The relationship between CAF and BBVA has helped provide innovative financing solutions to different countries in the region through a portfolio of products that include credit lines in local and hard currency, support in the issuance of green and social bonds, derivatives, short-term market instruments, private placements, among others, focused on sustainable development, a key pillar for CAF.

In December 2021, both agencies signed a memorandum of understanding (MOU) to improve the mobilization of financial resources in Latin America and the Caribbean and enhance cooperation to boost economic recovery in the post-COVID era.

This new agreement reflects CAF’s continued interest in fostering strategic alliances that advance technological and financial innovation in favor of the Latin American and the Caribbean population, while helping us play a major catalytic role by providing funds, products and experiences from other regions to mitigate the effects of the pandemic and advance economic recovery of the countries of the region and promote sustainable development. This alliance also involves the mobilization of fresh funds for green financing, which is essential for the countries of the region to migrate towards productive schemes and economies with low greenhouse gas emission.