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CAF’s authorized capital is 10 billion Unites States dollars (USD 10,000,000,000), composed of Common Stock and Callable Capital shares.Ordinary Capital
CAF’s Ordinary Capital amounts to 6.5 billion Unites States dollars (USD 6,500,000,000) and is distributed among Series "A", "B" and "C" shares, as follows:
- Series "A" shares: comprised of fifteen (15) nominative shares, each with a par value of one million two hundred United States dollars (USD 1,200,000), for a total amount of eighteen million United States dollars (USD 18,000,000).
Subscription of Series "A" Ordinary Capital shares is available to the governments of each Member Country or to public-sector institutions, semipublic or private entities with social or public objectives, as the respective government may designate. Currently, the ownership of these shares corresponds to Argentina, Bolivia, Brazil, Colombia, Ecuador, Panama, Paraguay, Peru, Uruguay and Venezuela, either directly or through an institution designated by the government.
- Series "B" shares: comprised of one million (1,000,000) nominative shares, each with a par value of five thousand United States dollars (USD 5,000), for a total amount of five billion United States dollars (USD 5,000,000,000). Subscription of Series “B” shares is available to the governments or to public, semipublic or private entities of the Member Countries.
Series "B" shares may be subscribed by private entities from the Member Countries, provided that the percentage of their equity interest by shareholder country does not exceed 49% of the total shareholders for that series.
- Series "C" shares: comprised of two hundred ninety six thousand four hundred (296,400) nominative shares, each with a par value of five thousand Unites States dollars (USD 5,000), for a total amount of 1.482 billion Unites States dollars (USD 1,482,000,000).
The subscription of Series "C" Ordinary Capital shares is available to legal entities or natural persons outside of the sub-region. Series “C” Ordinary Capital shares may be converted into Series "B" Ordinary Capital shares once the conditions for the member country’s adhesion to the Articles of Agreement, approved by the Shareholders’ Assembly, have been met by the respective Member Country. Callable Capital
CAF’s Callable Capital amounts to 3.5 billion United States dollars (USD 3,500,000,000) and is distributed among Series "B" and "C" shares, as follows:
- Series "B" shares: comprised of five hundred thousand (500,000) nominative shares, each with a par value of five thousand United States dollars (USD 5,000), for a total amount of 2.5 billion United States dollars (USD 2,500,000,000).
Subscription of Series “B” Callable Capital shares corresponds to the governments, or to public-sector, semipublic or private entities of the Member Countries.
- Series "C" shares: comprised of two hundred thousand (200,000) nominative shares, each with a par value of five thousand United States dollars (USD 5,000), for a total amount of one billion United States dollars (USD 1,000,000,000).
Subscription of the Series "C" Callable Capital shares is available to legal entities or natural persons outside of the sub-region.
Payment of Callable Capital shares is subject to a prior request by CAF, with the approval of the Board of Directors, when said capital is needed to meet the Corporation’s financial obligations, should CAF be unable to meet them from its own funds. New Full Members
In 2005, the Shareholders' Special Meeting approved an Amending Protocol to CAF’s Articles of Agreement to allow any Latin American country to become a full member of the Corporation by complying with two requirements: to adhere to the Articles of Agreement and to subscribe to one Series “A” share.
Said protocol was ratified by the congresses of all countries that were then full members of CAF, and took effect on July 9, 2008. As a result, Argentina, Brazil, Panama, Paraguay and Uruguay have subscribed additional ordinary capital for a total of 1.5 billion United States dollars (USD 1,500,000,000).
At the end of 2011, Argentina, Brazil, Panama, Paraguay and Uruguay had already become full members.The incorporation of these countries as full members strengthens the Corporation's financial position, to the extent that, by expanding its field of action, it increases the expectation of growth in its operations, which in turn, translates into a larger volume and diversification of operations.
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