US$1.325bn to improve quality of life in Latin America with projects in cities, energy, road integration and water

With the purpose of improving the quality of life and promoting regional integration, operations for a total of USD 1,325 million were approved in the CLXVII session of the Board of Directors of CAF - development bank of Latin America-, held in Panama City. The event concluded with the participation of the President of the Republic of Panama, Laurentino Cortizo Cohen . The institution expects to close the year with a record of approvals of USD 13,800.

During his speech, President Cortizo reaffirmed his commitment to CAF to achieve sustainable development, regional integration and trust among the countries of the region. “The development we aspire to needs allies like CAF. This bank must be the effective arm in the social health of Latin America. I have the conviction that as we believe in CAF as an ally, he also believes that our country and the strategy we represent, ”said Cortizo Cohen.

For his part, Luis Carranza , CAF's executive president, stressed that the approved initiatives, focused on cities, energy, road integration and water, will have a significant impact on the well-being of Latin Americans. “At CAF we are committed to the development of Latin America not as a bank, but as a partner of the countries, through the support of projects such as those approved today, for energy infrastructure and integration works, aqueducts, comprehensive interventions in cities that allow to generate better living conditions and reduce inequality in the region, ”said Luis Carranza, CAF executive president.

For Brazil , operations were approved in favor of subnational entities that will contribute to improving infrastructure, mobility and climate resilience in the State of Alagoas and the municipality of São Bernardo do Campo, and to promote economic and social development in the southern region of the country. . For Colombia, financing for the development of the expansion and strengthening plan for the regional transmission and distribution infrastructure under the responsibility of the Electrificadora de Santander ESP (ESSA), which covers the department of Santander and surrounding areas.

For Mexico , a loan was approved for the implementation of the national regulatory improvement strategy. In Paraguay , the Program for the improvement of the transmission and distribution of electricity system and the modernization of the distribution management of the Republic of Paraguay will be financed, benefiting 6.8 million inhabitants; and the Project for the construction of access to the second international bridge over the Paraná River, which will improve the quality of life of the population and boost productivity and tourism in the country.

For the Dominican Republic , the partial financing of the Santo Domingo Oriental Aqueduct Expansion Project was approved, which aims to optimize the Santo Domingo Norte and Santo Domingo Este aqueduct system. For Uruguay , financing was approved for the construction of the dam on the Casupá stream in the Santa Lucía river basin, which will contribute to the security of long-term water supply to 2 million inhabitants of the Montevideo Metropolitan Area.

In the CLXVII session held in Panama, the second stage of the Preinvestment Program for the Water Sector was also approved, to improve the quality of the studies and reduce the cycle times of projects through the financing of pre-investment actions and activities required to promote its phase of investment and execution.

This CAF release was published using machine translation.