Support for Panamanian financial system

( Special, March 22, 2010).- CAF and BBVA Panama today signed a loan agreement under which the Latin American development bank grants a new line of credit for US$20 million to the Panamanian financial institution. The funds will be used to finance business growth in Panama.

"This support for the financial system of the region reflects the catalyzing role that CAF plays in Latin America by strengthening institutions for foreign trade, working capital and investment of companies in sectors with low risk and high value added," CAF President & CEO Enrique Garcia said.

"The Latin American financial sector is currently facing a series of challenges and opportunities, which is why it is assuming and integrating - with growing responsibility - the principles of sustainable development into all its activities, which is the reason for our interest in its strengthening,” García added.

BBVA Panama is financial institution incorporated in 1982 under the laws of the Republic of Panama with a license to engage in both local and international banking business. The bank is part of the BBVA Group, a global financial services leader with outstanding reputation and a solid position in the Spanish market where it has over 150 years experience.