CAF strengthens links between Japan and Latin America

(Tokyo , January 31, 2010). The CAF President & CEO visited Tokyo, accompanied by a delegation from the organization, with the objective of deepening investment and commercial relations between CAF and this country, in favor of Latin America.

The working agenda included meetings with Kioshi Takemasa, Secretary of State for Foreign Relations; Rintaro Tamaki, vice minister of International Affairs of the Japanese Ministry of Finance; and Hiroshi Watanabe, president of Japan Bank for International Cooperation (JBIC), among others.

During the visit, a loan agreement for US$100 million was signed to finance foreign trade operations between CAF shareholder countries.

Garcia said, "CAF’s catalytic role attracts additional funds to promote the sustained development of Latin America, and move toward the strengthening of economies stimulated by competitive advantages." The Latin American institution "is committed to supporting the countries of Latin America in opening new horizons in Asia and building a long-term agenda for integrated development."

JBIC President Watanabe emphasized the excellent relations with CAF and his bank’s interest in continuing to deepen them by supporting initiatives which contribute to the sustainable development of Latin America. "This is an opportunity to reaffirm Japan's commitment to the region, promotion of investments and trade, and preservation of the environment," he said.

CAF began its relations with Exim Bank Japan (now JBIC) in 1975. Since then, six loan agreements have been signed. The first five totaled JPY 23 billion and the latest US$100 million. All the funds have been used for a range of projects which support the integrated development agenda for Latin America promoted by CAF.