USD 50 Million to Address COVID-19 in Trinidad and Tobago
CAF approved a loan to mitigate the effects of COVID-19 on the island nation’s healthcare systems.
CAF approved a USD 50 million loan to mitigate the effects of the COVID-19 healthcare crisis on Trinidad and Tobago. This loan is in addition to CAF’s USD 400,000 donation made on April 3, and will be supplemented by increased countercyclical support to mitigate the effects of the epidemic on economic activity.
The loan aims to strengthen Trinidad and Tobago’s ability to respond to and prevent the COVID-19 crisis, through direct funds and reimbursement of expenditures and investments aimed at reducing risk or mitigating the impact of the pandemic on people’s health.
“These emergency funds will aid the Government of Trinidad and Tobago in its efforts to fight COVID-19 from different fronts, from improving healthcare services to preserving the country’s economic recovery capacity,” said CAF executive president Luis Carranza.
To cope with the effects of the pandemic in Latin America, CAF offered its member countries in early March 2020 a regional emergency credit line for USD 50 million per country for investments in health emergencies, and in April 2020, it approved a regional countercyclical line of USD 2.5 billion.
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