CAF approves new line of credit for Paraguayan financial system

(Caracas, August 17, 2009).- The Andean Development Corporation granted a rotating line of credit for US$15 million in favor of Banco Bilbao Vizcaya Argentaria Paraguay (BBVA).

CAF President & CEO Enrique Garcia said approval of the credit was part of the multilateral development institution's strategy to facilitate financing for the bank and its customers, through granting of loans, avals and guarantees. "CAF has approved this line of credit to BBVA for up to US$15 million to finance the foreign trade and working capital operations of its customers."

BBVA Paraguay is a leading bank in the Paraguayan financial market. It has a good record, having developed an important customer base in various segments. "This institution - Garcia added - has shown proof of financial strength and has a recognized lending policy and a good reputation in the market." The CAF line will help the bank finance the needs of its customers in the areas of export finance and medium-term investment.