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CAF financed projects in Latin America and the Caribbean for US $ 13,200 million in 2021

The Development Bank of Latin America-CAF (former Andean Development Corporation) approved, during the year 2021, a total of US $ 13,200 million to finance development initiatives in Latin American and Caribbean countries, the institution reported.

The impact of these approvals means, for example, that more than 2.5 million people will have new or improved drinking water and / or sewerage connections; approximately 500 kilometers of sewerage networks will be built; and more than one million people will benefit from climate vulnerability reduction projects”, He explained.

The CAF detailed that 29% of the approvals (US $ 3,795 million) were destined “to respond to the crisis generated by COVID-19, including attention to the health emergency and support for fiscal consolidation, an aspect significantly affected by the health crisis”.

Another 26.9% of the loans (US $ 3,555 million) was used for the “economic reactivation”, Especially in energy, transport and telecommunications infrastructures.

Additionally, through the productive and financial sector, US $ 5.856 million were approved for public and private entities, as well as equity investments and participations in investment funds”, Stated the entity.

Likewise, he assured that during this year, the manager of private equity debt funds to finance infrastructure “CAF Asset Management”Consolidated its presence in the region with US $ 1,500 million in assets under management, and by 2026 it plans to operate in ten CAF member countries.

In addition, he highlighted that his board of directors approved “the largest capitalization in the history of the institution”, For US $ 7,000 million, which will allow it to double its portfolio by 2030, support the development of shareholder countries and consolidate the multilateral organization as the green bank of Latin America and the Caribbean.

Regarding the performance of the organization, the executive president of CAF, Sergio Diaz-Granados, he pointed out that they will continue to bet on the reduction of inequalities, the greater role of the private sector, integration, digitization and climate change.

CAF’s actions in this complex year have provided important support for the countries of the region to overcome the socioeconomic crisis generated by the pandemic. Looking to the future, we will continue to support consensus to address key issues in the region”Díaz-Granados said, according to the press release.

In September, Díaz-Granados assumed the presidency of CAF at the end of the term of Luis Carranza, who left office a year earlier than expected due to pressure he received from the Argentine board, he said in his resignation letter.

According to the entity, the current directive seeks “turn the institution into the green bank and the reactivation of Latin America and the Caribbean” Y “support the private sector to increase formal employment, promote gender equity, inclusion and diversity policies”.

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