Mexico to be new CAF shareholder

(no date).- CAF approved Mexico’s membership as "C" series shareholder. With the decision adopted unanimously by the CAF Board, Mexico becomes the first non-Andean CAF shareholder nation.

Today's board meeting (Thursday 14) held in Caracas was chaired by Bolivian Planning Minister Enrique García with the attendance of the directors for Bolivia, Colombia, Ecuador, Peru and Venezuela.

The resolution establishes that Mexico will subscribe to 4,000 "C" series shares with a nominal value of US$5,000 each. Of this total, 2,400 shares will be paid in cash and the remaining 1,600 shares will be guarantee capital.

The value of each CAF share is US$8,250 so Mexico will pay US$19,800,000 for the 2,400 shares.

SOLEMN SESSION The Board reviewed the … prepared for the solemn session which CAF will celebrate tomorrow … .

… XX anniversary. On that occasion, Venezuelan President Carlos Andrés Pérez will give the keynote speech… The first act will be to decorate the signatories of the CAF Establishing Agreement: Salvador Lluch Soler (Chile); Jorge Valencia Jaramillo (Colombia); Tomas Guillermo (Bolivia); Hector Hurtado (Venezuela); and José de la Puente (Peru), followed by the former CAF presidents: Adolfo Linares, Julio Sanjinés, and José C. Cardenas. 1 President of the Board Enrique García and President & CEO Galo Montaño will then speak on the anniversary.