CAF and BBVA cooperate to support the reactivation of Latin America and the Caribbean after the impact of the COVID-19

CAF (the Latin American development bank) and the BBVA bank signed a loan agreement worth $200 million to support the economic and social recovery plans promoted by regional leaders in Latin America and the Caribbean to deal with the hard hit by the COVID-19 health crisis.  

These resources will be used to finance initiatives that will enable the countries of the region to address the emergency generated by the coronavirus and also support counter-cyclical measures that will help alleviate the economic effects in the short term.  

Carlos Torres Villa, BBVA Chairman and CEO, was proud of this initiative: "We are very proud to collaborate with CAF in its efforts to mitigate the effects of COVID-19 and assist the economic recovery of Latin America. BBVA wants to be part of the solution and this financing evidences our commitment". 

Luis Carranza Ugarte, executive chairman of CAF, highlighted the great work carried out to date: "We continue working to bring resources with more favorable interest rates and terms to enhance the population' s well-being, maintain the social gains achieved in the past two decades and promote the region's economic recovery together with an ally such as BBVA". 

The comprehensive relationship between CAF and BBVA has allowed the multilateral bank to provide innovative financing solutions to different countries in the region through a set of diversified instruments that range from bond structuring to local currency credit lines. The institution promotes sustainable development and regional integration through the efficient mobilization of resources for the timely provision of multiple, high value-added financial services to public and private sector clients in shareholder countries.  

This proposal reflects the great work done by CAF since 1970 to promote sustainable development and regional integration by financing public and private sector projects, providing technical cooperation and other specialized services.