CAF – Development Bank of Latin America and the Caribbean has approved a Financing Facility for Investment Projects in the Caribbean to support economic and social infrastructure projects, as well as those related to climate change adaptation.
This new facility with an envelope of up to USD 50 million will help to address the unique circumstances of CAF shareholder countries in the Caribbean and is designed to offer an innovative, agile and flexible approach that is tailored to the specific needs of the region.
The facility, approved during CAF’s Board of Directors meeting in San Salvador, El Salvador on Thursday 5 December 2024, aims to finance pre-investment projects, promote investments in strategic economic and social infrastructure, and promote institutional strengthening through technical support to guarantee the success of the projects.
“With this facility, we seek not only to provide financial resources, but also to promote the integral development of the Caribbean, responding to the particular challenges of each of the countries. Our expansion in the Caribbean is driving us to be even more innovative and flexible to address the urgent needs of SIDS and channel the financing they need,” said Sergio Díaz-Granados, CAF Executive President.
This Facility will benefit projects with a maximum loan amount of up to USD 15 million per operation. The initiative also introduces the flexibility to apply local regulations and adapt to the regulatory and institutional frameworks of each country in terms of procurement, contracting and compliance with environmental and social safeguards.
During CAF’s Board of Directors, USD 2.48 billion was also approved for 10 countries in Latin America and the Caribbean, which will support resilient infrastructure, accelerate the energy transition, increase productivity and improve urban mobility, environmental sustainability and water and sanitation systems.
About CAF
The mission of CAF – Development Bank of Latin America and the Caribbean is to promote sustainable development and regional integration through the financing of projects in the public and private sectors, providing technical cooperation and other specialised services. Created in 1970, the Bank has 22 shareholder countries: 19 Latin American and Caribbean, together with Spain and Portugal, and 13 private banks. CAF is one of the main sources of multilateral financing and an important generator of knowledge for the region. More information at www.caf.com
