CAF approves increase in BRDE’s revolving credit line in Brazil to USD 140 million

July 19, 2022

At a meeting held in Panama City, the Board of Directors of CAF approved the increase in the limit of the revolving credit line to support BRDE’s efforts to foster economic and social development in the states of Rio Grande do Sul, Santa Catarina, Paraná and Mato Grosso do Sul.

The Board of Directors of CAF—development bank of Latin America—today approved a credit line increase for the South Development Regional Bank (BRDE), from USD 70 million to USD 140 million. The operation aims to support BRDE’s efforts in its mission to boost the economic and social development of southern Brazil.

“Our partnership with BRDE, which began in 2019, has already proven to be strong, with direct impacts on the social and economic development of Brazil’s southern region, home to around 30 million people. With the approved increase in the revolving credit line, CAF intends to further contribute to the region, encouraging the financing of projects that clearly follow the principles of the sustainable development agenda and that help economic recovery after Covid-19,” said CAF executive president Sergio Díaz-Granados.

The previous credit line benefited around 8,700 small and medium-sized enterprises and funded the construction of small power plants, enabling an expected average annual generation of 24,000 MWh/year. With the increase in the credit line, the new funds will be channeled to the financing of projects that boost productivity, competitiveness, energy efficiency and enhance innovation projects, both in the public and private sectors, mainly in the agricultural, industrial, infrastructure and services sectors.