AFD secures USD 50 million credit from CAF to support economic reactivation in Paraguay

The Development Finance Agency (AFD) reported on the approval of a new line of credit for USD 50 million from the Development Bank of Latin America and the Caribbean – CAF, in order to support economic reactivation. The fact is relevant because it is the second time that this local public bank accesses a loan with its own support for funds from international organizations.

“With this credit operation we are meeting two important milestones for AFD. It is the first operation in 18 years of institutional life with the CAF, and we are also making use of a new legal authority which is to contract loans with the support of our own balance sheet,” said AFD president Stella Guillén.

CAF’s representative in Paraguay, Jorge Srur, highlighted that the international bank reaffirms its commitment to the sustainable and inclusive economic development of Paraguay, strengthening the capacities and enhancing the actions of both institutions in the country.

The resources will be used to finance working capital, investments, economic activities linked to the agro-industrial sector, foreign trade operations and partial guarantees for AFD bond issues.

2024-01-27 05:29:03
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