Major Institution approves $2.74 billion in loans for Latin America’s modernization

The Development Bank of Latin America (CAF) agreed to provide humanitarian aid to Barbados, Ecuador, and Honduras as part of its primary goals.

CAF announced on Thursday loans totaling $2.74 billion for 14 projects across nine countries in the region. The aim is to enhance social inclusion, modernize infrastructure, increase competitiveness, and accelerate climate action.

The beneficiaries are Argentina, Bolivia, Brazil, Chile, Colombia, Ecuador, El Salvador, Honduras, and Peru, according to a statement from CAF. It also announced the inclusion of Antigua and Barbuda, which becomes the fourth country to join the institution in 2024, following the Bahamas, Dominica, and Grenada.

The development bank’s board, meeting in Lima, detailed that the loans are intended to help the region boost energy transition, resilience of strategic ecosystems, social welfare, physical and digital infrastructure, productivity, and resilient territories.

In the same meeting, they also agreed to allocate humanitarian aid to Barbados, Ecuador, and Honduras as part of CAF’s efforts to support nations affected by natural disasters.

In other relevant regional news, the main index of the Mexican Stock Exchange (BMV), the S&P/BMV IPC, which tracks the most traded local stocks, rose 0.26% to 53,882.44 points. The FTSE BIVA index, from the Institutional Stock Exchange (Biva), gained 0.19% to 1,102.85 units.