Trinidad and Tobago increases its capital in CAF

(Port of Spain, April 14, 2009).- During his official visit to Trinidad and Tobago, CAF President Enrique García met with Prime Minister Patrick Manning with a view to stimulating the excellent working relations and bilateral cooperation. The agenda also included meetings with Foreign Affairs Minister Paula Gopee-Scoon; Commerce and Industry Minister Mariano Brown; Finance Minister Karen Nunez-Techeira; and Central Bank Governor Ewart Williams.

At a solemn ceremony held in the offices of the Ministry of Finance, the agreement to increase the capital of Trinidad and Tobago in the Corporation was signed. President García emphasized the importance of this increase in equity investment, which is evidence of the confidence deposited by Trinidad and Tobago in this Latin American and Caribbean institution."This is, without doubt, a recognition of CAF's catalytic role and valuable contribution to sustainable development and regional integration. It also confirms the willingness clearly expressed by the CAF shareholder countries to strengthen the Corporation's capital stock and deepen strategic relations with the Caribbean nations."

Finance Minister Nunez-Techeira expressed the Trinidad government's satisfaction with the signing of the agreement, which fulfills the objective of forging closer relations with CAF. She emphasized the country's interest in deepening opportunities for integration with Latin America, in which the Corporation has a leading role, as well as working jointly on developing public-private projects which are critical for the country and the region.

The Republic of Trinidad and Tobago, which joined CAF as a "series C" shareholder in June 1994, has signed institutional agreements with the multilateral development bank in various economic areas. Especially important is the non-reimbursable financial support which the Corporation provided to Trinidad and Tobago for design and implementation of the V Summit of the Americas, as well as credit operations granted for working capital and foreign trade.