Unasur pledges to strengthen CAF to increase South American integration

- Wednesday, August 24, 2011

Unasur pledges to strengthen CAF to increase South American integration

The newly created financial committee of the Union of South American Nations (Unasur), has agreed to strengthen regional development bank Corporación Andina de Fomento (CAF).

During the first meeting of the committee - which comprises the central bank governors of the region - it was agreed to push CAF forward as an instrument of South American political and economic integration.

At present, CAF has an equity base of some US$5.75bn and US$18.5bn in assets.

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