CAF approves operations for USD 650 million in Brazil

The Board of Directors of CAF -development bank of Latin America and the Caribbean-, meeting in Santiago de Compostela, Spain, approved two financial operations for Brazil: one for the National Bank for Economic and Social Development (BNDES) and another for the State from Bahia. In total, the operations total USD 650 million and reinforce the institution's commitment to sustainable development in Brazil.

The operation with the BNDES consists of a credit line of up to USD 500 million aimed at clients who wish to invest in projects related to the areas of powershoring (energy integration and transformation), green development, economic reactivation and financial inclusion, including those that aim to the generation of renewable energy (solar, wind and green hydrogen), improvements in access to industrial zones and ports, new industrial plants, intensive in energy consumption and those that are renewed in order to produce green manufacturing: steel, fertilizers and cellulose, among others.

The second operation is valued at USD 150 million and aims to guarantee the financing of the public contribution for the construction of the bridge between Salvador, Bahia, and the island of Itaparica. The work will reduce the distances between the metropolitan region of the Bahian capital and the southwest and west of the State, promoting socioeconomic growth. The project will help establish a new development axis in Brazil that will positively impact the lives of 4.4 million people living in 45 municipalities.

“The increasingly closer relationship between CAF and Brazil is advancing in the direction of sustainable development, with a green and inclusive, long-term and broad-reaching approach, through diverse initiatives focused on people and their quality of life, and on the to improve the competitiveness of the Brazilian economy", said Sergio Díaz-Granados, executive president of CAF.