Trinidad and Tobago becomes CAF partner shareholder

(Caracas, March 18, 1994).-- The 81st meeting of the CAF Board, held in Caracas, Venezuela, authorizes the entry of Trinidad and Tobago into the capital of the institution. This country joins Mexico and Chile as subscriber to series "C" shares reserved for extra-regional countries.

One of the objectives of CAF -- financial institution of the Andean Group – is to support the sustainable growth and integration efforts of the region by backing member countries in the transformation of their economies to make them more diversified, competitive and sensitive to social needs.

The Corporation is committed to the development of the private sector through provision of multiple financial services and attracting foreign investment.

CAF is one of the most successful Latin American issuers on international capital markets, as well as being the first bank in the region to receive three investment-grade ratings from the most important risk-rating firms of Europe and the United States (IBCA, Moody’s and Standard & Poor's).

CAF is contributing pragmatically to strengthening economic, financial and commercial relations in Latin America and the Caribbean, which is now especially important because all the countries are committed to making efforts in favor of reciprocal free trade, harmonizing their economic policies and moving toward opening their financial markets.

With the Caribbean area, CAF has established productive institutional and commercial contacts which have led to joint business between private Andean-Caribbean private companies.

CAF has also made a series of lines of credit available to financial institutions in Mexico, Chile, Trinidad and Tobago, St. Lucia, Antigua and Barbuda, St Vincent and the Grenadines, Jamaica and Barbados to finance foreign trade operation between their countries and the Andean nations.