CAF Transfers First USD 50 Million Loan to Barbados

Enrique García, executive president of CAF—development bank of Latin America—, made an official visit to Barbados, where he met with top national authorities and signed a USD 50 million loan agreement for the Caribbean country.

“By approving this loan, CAF is reinforcing the economic and trade cooperation links, in an attempt to implement the growth strategy and reaffirming our institution’s commitment to sustainable development of Barbados,” García said.

As part of his itinerary, CAF executive president held meetings with Prime Minister Freundel Stuart, and the ministers of Finance and Economic Affairs, Christopher Sinckler; Tourism and International Transport, Richard Sealy; Transportation and Works, Michael Lashley; Environment and Drainage, Denis Lowe.

During his visit, Enrique García also signed a technical cooperation agreement with the Ministry of Finance and Economic Affairs to provide technical assistance to the Public Investment Unit (IPU) in designing a Strategic Development Plan and to build capacities for the selection, design, evaluation, implementation and monitoring of public investment projects.

Barbados joined CAF as a shareholder on September 3, 2014. Barbados’ adherence shows the institution’s vocation to promote growth and sustainable development of the region, to reinforce bilateral and regional linkages for integration and to expand CAF’s presence and support in the Caribbean.