PANAMA CITY, July 19 (Reuters) – The CAF-Development Bank of Latin America said on Tuesday it has approved $1.65 billion in financing for Argentina, Brazil, Paraguay, Peru and Trinidad and Tobago. The funding rounds will be carried out in seven operations.
The funds will be used in “strategic sectors” such as social development, water and health, energy and more, the bank said in a statement.
The move is a “sign of commitment of CAF’s board of directors and management to offer timely responses in accordance with the challenges facing the region,” Director Sergio Diaz-Granados said in the statement.
Honduras became a full member of the CAF on Monday, according to a statement from the country’s foreign ministry.
The CAF, based in Caracas and established in 1970, has 18 member-countries in Latin America, the Caribbean, Spain and Portugal, along with 13 private banks.
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