Strategic CAF - KfW Alliance

CAF started its alliance with the KfW in February 1977 (37 years ago) subscribing in its beginning a loan contract for DM 15.0 MM (Approx USD 12 MM) to support CAF´s projects. Additionally, another 2 contracts were signed between 1986 and 1999 for USD 58.5 MM for infrastructure projects.

As of 2003, the CAF-KfW relationship has been successfully deepened, materializing itself through various agreements of both loan and non-reimbursable financial support.

Credit facilities hired since 2003:

Date Amount USD MM Financing purpose Projects Funded Beneficiary countries Balance * Pagar USTo pay  Vto.
2003 100.0 Infrastructure Projects 4 Bol, Col, Ecu, Ven 0.0 Dec 2012
2006 88.9

ER/EE Projects

8 Bol, Col (3), Pan,Per, Mex y Uru 49.0 Dec 2018
2009 140.0 Infrastructure Projects 3 Per, Rep Dom, Ven 140.0 Dec 2021
2011 (*) 195.2 Climate Change Projects 4 Ecu (2), Per, Pan 40.8 Dec 2026
2012 (*) 100.0 Climate Change Projects 3 Bra, Ecu, Uru 20.0 Dec 2024
2013 (*) 200.0 Climate Change Projects 3 Ecu, Pan, Per 180.0 Dec 2025

(*) Credit lines in implementation and in process of being used


In total, from 2003 to 2013, 6 loan contracts have been signed for a total of USD 824.1 million

Non-reimbursable resources: since the beginning of 2011, KfW has been in the quest for initiatives that help CAF obtain non-reimbursable resources to support the pre-feasibility, feasibility and implementation of CAF projects in their initial phase. These resources have been obtained and have been provided by the European Commission through the LAIF (Latin America Investment Facility) initiative. The facilities subscribed between the CAF and the KfW for such purposes are:

Descripción Resource Provider Resource ProviderEUR MM Status LAIF´s Final  approval date
1- KfW Climate change program LAIF-European Commission 3.0 Contract signed, in execution Mar 2011
2- KfW Climate change program LAIF-European Commission 4.0 Contract signed, in execution Sep 2013
3- KfW Ease of incentives for climate change mitigation projects LAIF-European Commission 10.0 Se firmó contrato, en ejecución Oct 2013
4- KfW Urban Transportation Program LAIF-European Commission 3.0 Approved, contract in negotiation Oct 2013
5- KfW Urban Transportation Program German Government 1.0 Approved, contract in negotiation Dec 2013
TOTAL 21  


Currently, other initiatives are being worked on with KfW in the fields of geothermal energy and efficiency on the demand side to access additional non-reimbursable resources of LAIF from the European Commission.

Future credit lines under concessionality scheme: on January 27th, 2014, a Financial Cooperation Agreement was signed between CAF and the Embassy of Germany in Venezuela in which the KfW established its interest to make EUR 285.0MM available to CAF, to be used for 2 credit lines that would be subscribed in the future for the following sectors: 1) Climate Change Program II for EUR 150.0 MM; and 2) Program in the Water Sector for EUR 135.0 MM.

Convenio Constitutivo 2015

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