Syndicated loan for US$40 million granted to Banco Wiese of Peru

A syndicated loan for US$40 million was granted to Banco Wiese, structured through a innovative financial facility known as A/B loans based on agreements which CAF maintains with the central banks of Germany, Belgium, Holland and France.

The other financial institutions participating are ING Bank, Amro Bank and Dresdner Bank Lateninamerika, whose contributions join those of CAF in a cofinancing operation to channel more funds into the productive sectors of Peru.

The loan is complementary to previous finance granted by the Corporation to Banco Wiese for foreign trade and projects which facilitate the establishment, renewal and expansion of private companies in the country in Peru.

With ten member countries (Bolivia, Colombia, Ecuador, Peru, Venezuela, Brazil, Chile, Mexico, Paraguay and Trinidad and Tobago), CAF plays an important catalytic role by attracting third-party funds into the region which are then channeled to the public and private sectors of each shareholder country. This activity takes place through cofinancing operations with financial institutions in the industrialized countries and multilateral organizations, or through placements on international capital markets where the Corporation can generate funds on the most competitive conditions for a Latin American issuer due to its prestigious position.

The CAF Vice President of Financial Institutions, Stephen Foley, made an official visit to Peru to participate in the launch of the new product in a ceremony held today with the managing director of Banco Wiese, Victor Miro Quesada, and the general manager, Manual Custodio Poémape.

Foley said development of the A/B loans – instrument recognized by the world's leading financial institutions – will permit CAF to expand the range of products and financial services offered to its clients in the private sector and considerably expand its investments in Peru.