CAF publishes Annual Report 2001

The Andean Development Corporation (CAF) today announced the publication its Annual Report 2001 which presents the activities of this international financial institution during last year.

In his letter of presentation, the CAF executive president, Enrique García, says: "in an adverse international environment which had negative repercussions on Latin America, the CAF consolidated its position as the principal source of multilateral financing for Andean countries, the issuer with the highest risk rating in the region and a recognized link in the regional integration process through the financing of important projects in all its shareholder countries."

In 2001 the Corporation achieved excellent operating and financial results, with record levels of approvals, disbursements, cofinancings, net flow of funds in favor of member countries and net earnings. All this together with the highly satisfactory financial ratios and an upgrade in the risk rating, permitted the institution to raise funds at the most competitive rates available to the region, in a world capital market with difficult access for emerging countries, García adds.

The executive president thanked governments, shareholders and the Board for the support and confidence given him by his confirmation as the head of CAF for a further period of five years until 2006.

Corporate e-card

Together with the publication of its Annual Report 2001, the Andean Development Corporation presented the first version of its corporate e-card, which is a CD with the size and shape of a business card but with all the interactive capacities of a CD ROM.

The advantages of this electronic communication solution include the transmission of simple but accurate information, user-appeal and see-hear-touch interaction.

The content of each card is divided into two sections: dynamic and interactive. The first offers a multimedia presentation of the Corporation’s mission, activities and other items of interest. In the second, the user can navigate through eight interactive menus: What is the CAF?, Priority Fields of Action, Products and Services, Toward a Sustainable Development, Cultural Activities, the CAF In Figures, Presence on International Capital Markets and Contact Us.

All the navigable menus have a musical background of pieces by the Andean Youth Symphony Orchestra, a CAF initiative for its 30th anniversary in 2000.

In line with the pillars of its mission - sustainable development and regional integration - recycled paper was used for the Annual Report and the e-card envelope, which were prepared in Caracas and Bogotá, respectively.