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US$15 million approved to finance exports by Latin American SMEs
The private capital fund will finance exports by small and medium enterprises in Argentina, Brazil and Peru and other Latin American countries.
February 07, 2012
(Caracas, February 7, 2012).- CAF - Latin American development bank - made an equity investment of US$15 million in the Latin American Export Finance Fund which finances exports directly to small and medium enterprises in Latin America.
The private capital fund - managed by Crecera Finance Management Company LLC - has its main geographic focus in Argentina, Brazil and Peru but also hopes to originate operations operations in Colombia, Mexico, Uruguay and Central America.
CAF President & CEO Enrique García said equity participation reflects the multinational bank´s interest in projects that promote the development and competitiveness of small and medium enterprises and export diversification, and generate sources of direct and indirect jobs in rural areas in Latin American communities which are below the poverty line.
"This investment will open the way for greater participation by private investment in the export sector and stimulate the sustainable development of countries in the region," García said, emphasizing the catalytic role that CAF plays in strengthening the Fund in relation to international investors.
