US$790 million approved for operations in Argentina, Colombia and Peru

CAF President & CEO Enrique García said that "with these operations CAF is continuing its conceptual and financial support for a renewed development agenda for the region." He added that "the operations approved today strengthen various sectors of our shareholder countries, promoting stability, efficiency and social equity in Latin America."

For Colombia, the multilateral financial organization approved US$500 million for two operations: the first for US$400 million for a contingent line of credit for the Republic of Colombia to be executed by the Ministry of Finance and Public Credit; the second operation for US$100 million updates the non-committed revolving line of credit for Banco de Comercio Exterior de Colombia S.A. (Bancoldex).

For Argentina a US$200-million operation was approved for partial financing of the Comahue-Cuyo Electricity Interconnection Project. This project has great strategic importance because it not only contributes to improving the security and reliability of the Argentine electricity system, but also supports energy integration through the interconnection of the electricity systems in the Cuyo region and internationally with Chile and Brazil.

Lastly, the approval in favor of Peru consists of a partial credit guarantee for US$90 million as a contribution to obtaining total finance of US$310 million for a section of the South Inter-Oceanic Road Corridor. All the approvals are supporting important infrastructure projects needed for development of the country and regional integration.