US$200 million for Brazilian banks

(Caracas, December 7, 2006) - The Andean Development Corporation (CAF) announced the granting of two new US$100-million lines of credit in favor of Brazilian banks Bradesco and Unibanco to support the foreign trade operations of this country.

CAF President & CEO Enrique García explained that the approvals were part of the strategy of the multilateral financial organization to provide effective support for Latin American banks in their efforts to promote regional trade, opening the way for regional development, through its role as catalyzing agent. "All this is in line with the CAF business strategy, which aims to increase and diversify its relations with the Latin American financial sector."

According to the information supplied by García, the line of credit will be used to finance working capital, investment capital, and trade operations.

Bradesco, one of the leading banks in the Brazilian private financial sector, has been the largest private bank since 1951 and leads in various segments, such as corporate banking, private banking and service for micro-, small- and medium-sized enterprises. The institution also occupies a leading position in the insurance, leasing and capitalization markets.

Unibanco, one of Brazil's leading private banks, concentrates its activities in personal or retail banking, corporate or wholesale banking, investment banking, private international banking, and insurance. It also has a significant share in the credit card, insurance and asset management segments.