CAF teams up with Belgium's BIO to boost private sector financing

Friday, October 21, 2011

Latin American development bank CAF and the Belgian Investment Company for Developing Countries (BIO) signed a memorandum of understanding (MOU) that seeks to strengthen the region's private sector by co-financing companies to contribute to regional growth and development.

The MOU will allow the Latin American private sector and SMEs to access short, medium and long-term financing to improve productivity and competitiveness in the region and in the global market, CAF said in a press release.

The co-financing resulting from this agreement will be aimed at banks and investment funds, as well as other companies and infrastructure projects undertaken by the private sector, in areas such as sustainable and clean energy, transportation, ports, airports, water, sanitation and the environment.

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The MOU also aims to strengthen relations and stimulate transfer of know-how between BIO and Latin American countries that are CAF members.