Argentina has been one of CAF’s shareholders since December 2001, representing 6.9% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

Once the protocol to amend CAF’s Articles of Agreement came into effect on July 9, 2008, a new phase of growth began for the Institution allowing the admission of new Latin American and Caribbean countries as full members of CAF.

Within the framework of this amendment to the Articles of Agreement, in December 2007, Argentina subscribed to CAF’s ordinary capital shares for a total of USD 543 million. This, in addition to its initial participation of USD 100 million, will raise Argentina’s subscribed capital to USD 643 million. Furthermore, Argentina agreed to contribute an additional USD 126 million to the Institution’s callable capital.

During 2009, CAF approved operations for Argentina for USD 649 million, of which, 82% (USD 532 million) accounted for sovereign risk operations and 18% (USD 117 million), for non-sovereign risk operations.

Bolivia is one of CAF’s founding shareholders, representing 6.1% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved operations for Bolivia for USD 511 million, of which 89% (USD 455 million) accounted for sovereign risk operations and 11% (USD 56 million), for non-sovereign risk operations.

The Federative Republic of Brazil has been CAF’s shareholder since November 2005, representing 6.3% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

Once the protocol to amend CAF’s Articles of Agreement came into effect on July 9, 2008, a new phase of growth began for the Institution allowing the admission of new Latin American and Caribbean countries as full members of CAF.

Brazil subscribed to the Articles of Agreement, pursuant to the framework of its amendment, thus becoming a full member of CAF.

During 2009, CAF approved USD 907 million for Brazil, entirely for non-sovereign risk operations.

Chile represents 0.9% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

In 2009, Chile signed an important agreement with CAF to facilitate the future development of CAF’s activities in the country.

Colombia is one of CAF’s founding shareholders, representing 21.7% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved operations for Colombia for USD 2.05 billion, of which 52.2% (USD 1.07 billion) accounted for sovereign risk operations and 47.8% (USD 980 million), for non-sovereign risk operations.

Costa Rica has been one of CAF’s Series “C” shareholders since August 2002, and represents 0.5% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved USD 11 million for Costa Rica to assist the financial and productive sectors. Specifically, CAF continued to support the MSME sector, by giving a USD 10 million line of credit to Banco Improsa, USD 1 million to Financiera DESIFYN, and an equity investment in the Fideicomiso CIS that seeks to promote entrepreneurship in the country.

Ecuador is one of CAF’s founding shareholders, representing 6.2% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved operations in Ecuador for USD 873 million, of which 76.6% (USD 669 million) accounted for sovereign risk operations and 23.4% (USD 204 million), for non-sovereign risk operations.

Spain has been one of CAF’s Series “C” shareholders since 2002, representing 2.5% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF expanded the agenda of its European activities by including financial institutional actions, and interacting with the communications media and local and national production unions. These actions have spread to other European Union countries of special interest because of their relationship with Latin America.

Jamaica has been one of CAF’s Series “C” shareholders since 1999, representing 0.03% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

Mexico has been one of CAF’s Series “C” shareholders since 1990, representing 0.8% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved USD 65 million for Mexico. Of this amount, USD 50 million was allocated to a partial credit guaranty for the income securitization of the Instituto de la Función Registral, an agency of the Mexican government. The objective was to support a securities issue that would be guarantied by CAF, so that the agency could obtain an investment grade.

Panama has been one of CAF’s shareholders since December 1997, representing 1.2% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

Once the protocol to amend CAF’s Articles of Agreement came into effect on July 9, 2008, a new phase of growth began for the Institution allowing the admission of new Latin American and Caribbean countries as full members of CAF.

Within the framework of this amendment to the Articles of Agreement, in October 2008, Panama formalized its subscription of CAF’s ordinary capital shares for a total of USD 169.9 million. This, in addition to its initial participation of USD 20 million plus earned dividends, will raise Panama’s subscribed capital to USD 197.7 million.

During 2009, CAF’s actions in Panama were mainly aimed at strengthening financial systems and contributing to risk mitigation strategies that were needed as a result of the international crisis.

More information about CAF in Panama

Paraguay is one of CAF’s shareholders since February 1997, representing 0.5% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

Once the protocol to amend CAF’s Articles of Agreement came into effect on July 9, 2008, a new phase of growth began for the Institution allowing the admission of new Latin American and Caribbean countries as full members of CAF.

Within the framework of this amendment to the Articles of Agreement, in February 2008, the Republic of Paraguay formalized its subscription of CAF’s ordinary capital shares for a total of USD 189 million. This, in addition to its initial participation of USD 10 million, will raise Paraguay’s subscribed capital to USD 199 million.

During 2009, CAF approved operations in Paraguay for USD107 million, of which 79.4% (USD 85 million) accounted for sovereign risk operations and 20.6% (USD 22 million), for non-sovereign risk operations.

More information about CAF in Paraguay

Peru is one of CAF’s founding shareholders, representing 21.6% of CAF’s total subscribed shares and paid-in capital as of December 31, 2009.

During 2009, CAF approved USD 2.287 billion for operations in Peru, of which, 56.8% (USD 1.30 billion) accounted for sovereign risk operations, while 43.2% (USD 987 million), for non-sovereign risk operations.

More information about CAF in Peru

On November 30, 2009, Portugal became a CAF Series “C” shareholder after the subscription of an agreement for EUR 15 million in ordinary capital and EUR 60 million in callable capital. The signing took place at the XIX Ibero-American Summit of Heads of State and Government in Estoril.

The Dominican Republic has been one of CAF’s Series “C” shareholders since 2004, representing 0.9% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved USD 129 million for the Dominican Republic. Of this amount, 62% was directed to the area of social development for the Project on Human Development and Habitat. This program aims to reduce the housing deficit faced by the country, through a comprehensive initiative to improve the quality of life for 7,800 low-income families, including the development of complementary social infrastructure.

Trinidad & Tobago has been one of CAF’s Series “C” shareholders since 1994, representing 0.1% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

The Oriental Republic of Uruguay has been CAF’s shareholder since December 2001, representing 2.1% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

Once the protocol to amend CAF’s Articles of Agreement came into effect on July 9, 2008, a new phase of growth began for the Institution allowing the admission of new Latin American and Caribbean countries as full members of CAF.

Within the framework of this amendment to the Articles of Agreement, in October 2009, the Oriental Republic of Uruguay formalized its subscription of CAF’s ordinary capital shares for a total of USD 54.9 million. This, in addition to its initial participation of USD 176.9 million, plus earned dividends, will raise its subscribed capital to USD 241.2 million.

During 2009, CAF continued to support the development of the economic infrastructure in this country, by approving USD 100 million for the Program for Public Investment in Road Infrastructure IV, to the National Corporation for Development (CND) with the Republic’s guaranty.

Venezuela is one of CAF’s founding shareholders, representing 21.6% of CAF’s total subscribed and paid-in capital as of December 31, 2009.

During 2009, CAF approved operations in Venezuela for USD 627 million, of which, 95.7% (USD 600 million) accounted for sovereign risk operations and 4.3% (USD 27 million), for non-sovereign risk operations.