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The Development Bank of Latin America -CAF- approved new loans for Argentina for $ 400 million which will go to Belgrano Cargas on Regional Express Network (RER) and the Program of Capital Market Development for Productive Financing.
At the meeting CLXIII of the Board of Directors of CAF, held in Madrid, announced the first half of the 2018 report of the agency and the approval of the loans of Investment for a total of US $ 785.20 million for the member countries, of which 400 million are intended for projects for Argentina .
US $ 150 million will be allocated to the Capital Markets Development Program for Productive Financing, of which US $ 150 million will be allocated to Objective is to contribute to the Ministry of Finance in the region. Implementation of the Productive Financing Act via freely available budget support resources .
The Law promotes the financial inclusion of micro, small and medium enterprises in the capital market it promotes national savings and its orientation towards long-term investments and strengthens the National Securities Commission (CNV).
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The other projects
On the other hand, $ 150 million will be allocated to the Belgrano Sur Railway Renovation Project (FCBS) – Phase II, to improve mobility and the connectivity of transport services from the Southwest Corridor of the Buenos Aires Metropolitan Area to the City of Buenos Aires
This is the second phase of financing, which provides for the complete renewal of the M branch, of the Tapiales station at the Marinos del Crucero General Belgrano station.
The work includes: the reconstruction of the road (47 km); the duplication of roads (6 km); integral signage of the section; the renovation or improvement of 25 level crossings; the redevelopment of the Marinos del Crucero Gral station in Belgrano; and improving the urban environment of Aldo Bonzi Station (18,000 m2 of areas including sidewalks, streets and green spaces);
In addition, the participation of external specialists will be encouraged to contribute to the development of the Project, as part of the implementation of the future Regional Express Network (RER)
Financing – provided by CAF- it will have an impact direct in terms of productivity in the rail pbadenger transport sector and accessibility and social inclusion of the beneficiary population.
Finally, the CAF will provide 100 million US dollars to the Regional Electric Transportation Program. of the province of Buenos Aires
The project includes the construction of high voltage transmission works and the preparation of feasibility studies, necessary to meet the growth of demand and relieve the overloads in the functioning of the system
What is the CAF
The CAF meeting is part of the annual activities The Ministry of Finance participates and represents the country as a member of the Bank.
Incorporated in 1970, the CAF aims to promote sustainable development and regional integration, by providing multiple financial services to clients in the sectors. During the meeting, the representatives of the shareholders for the period 2017-2020 of Argentina, Bolivia, Brazil, Colombia, Ecuador, Paraguay, Peru, Trinidad and Tobago, Uruguay and Venezuela were also present.
The CAF is made up of 19 shareholder countries – 17 from Latin America and the Caribbean, as well as from Spain and Portugal – and 13 private banks. Currently, the country has an active portfolio of nearly 2,500 million US dollars, diversified in sectors such as road infrastructure, education, electric power, water and sanitation, knowledge transfer and technology, in particular
. officials of the Secretariat for International Financial Relations.
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