Loans for industries in Peru, Colombia and Venezuela

(Caracas, July 22, 1988).- CAF signed two agreements for loans granted to a Colombian-Venezuelan company and to the Peruvian government for over US$21 million.

Monómeros Colombo-Venezolanos SA (EMA)received an execution loan for US$5,260,000 to finance the direct foreign currency costs (machinery, equipment, materials) of the expansion of the Caprolactama Plant. The agreement was signed in the CAF headquarters in Caracas by CAF President & CEO Galo Montaño, and company Vice President of Finance, Ernesto Prieto Sanclemente.

Peru received a global loan for US$16,384,000 to support its Industrial Development Program, which will finance - through sub-loans - acquisition of equipment, machinery and services imported by the beneficiaries of the program. The executing agency is the Financial Development Corporation (COFIDE), institution set up to support private and public business activity through financial intermediation. The agreement was signed in the CAF headquarters by Montaño and Minister Roberto Vélez Arce on behalf of the Peruvian government.