CAF to Lend Uruguay USD 50 Million for COVID-19

CAF—development bank of Latin America—approved a USD 50 million loan to Uruguay to help curb the spread of the COVID-19 epidemic and mitigate its effects on the nation’s public health and economy. The funds will help reinforce authorities involved in the management of the health emergency, laying the groundwork to ensure effective compliance with lockdown measures.

This loan is in addition to CAF’s USD 400,000 grant to Uruguay on April 3 to help curb the spread of the pandemic and mitigate its impact on public healthcare and the economy.

“With these funds, we hope to quickly and efficiently support the Uruguayan government in its efforts to mitigate the impact that the COVID-19 pandemic is causing on the nation’s healthcare systems and economy,” said CAF executive president Luis Carranza Ugarte.

To cope with the effects of the pandemic in Latin America, CAF offered its member countries in early March a regional credit line of USD 300 million to address the health emergency, a USD 400,000 grant, and a USD 2.5 billion regional emergency credit line to underpin countercyclical economic measures.