Danish technology and capital for Andean Group

(Caracas, June 13, 1990).- A cooperation agreement signed by CAF and the Danish Industrialization Fund for Developing Countries (IFU) will promote the transfer of Danish technology and capital to the member countries of the Andean Group.

The IFU, whose objective is to stimulate the commercial and industrial development of developing countries, signed an agreement of this type with CAF for the first time in 1984, with. a four-year extension signed on June 6 this year. The Corporation will send IFU basic industrial information on viable and remunerative projects. The fund will report regularly to CAF on the progress of its promotional work in Denmark and on possible investors. For projects already approved by both parties, CAF will participate through medium- and long-term loans, act as intermediary for financing and hiring experts in the area involved. The IFU, in cooperation with Danish partners, will participate with capital long-term loans or guarantees.

The agreement was signed in Caracas by CAF President & CEO Galo Montaño in the presence of IFU executives Hanne Bang Nielsen and Borge Bundgaard.