CAF reiterates support for the sustainable development of Paraguay

The representative of the CAF-development bank of Latin America- in Paraguay, Jorge Gärtner, attended the inauguration ceremony of the President of the Republic, Mario Abdo Benítez, who sworn in as the 50^th president in the political history of the country. Gärtner was among the 100 international delegations attending the event held at Palacio de López.

During his greeting with the incoming President, Jorge Gärtner reiterated the institution’s commitment to support the sustainable development of Paraguay, through the projects arising from the country's development plan and aligned with CAF’s comprehensive strategy.

CAF’s support to Paraguay has been recently centered on the following strategic sectors: economic and integration infrastructure, social and environmental development, institutional strengthening, and development of the productive sector and the MSMEs, through initiatives in favor of the Paraguayan citizens, such as recent approvals related to the “Project for the Authorization and Maintenance of National Route 9 and Driveways” in the amount of USD 400 million; and, for the energy sector, the “Program for the Strengthening of the National Interconnected System’s Transmission and Rural Electrical Distribution - ANDE” in the amount of USD 170 million, among others.

Over the last five years (2013-2017), CAF has approved operations in Paraguay worth USD 1,963 million, an average of USD 393 million a year. In the same period, total disbursements amounted to USD 507 million (1.3% of the total disbursement to shareholder countries), which represents an annual average of USD 101 million.