Multilateral Development Bank of the Year: CAF

Nov 1, 2013

With a focus on infrastructure, the multilateral lender has expanded its loan book and is prepared for greater demand as markets turn sour

It has been a busy year for CAF. The multilateral - which last year rebranded as the Development Bank of Latin America, to reflect its pan-regional ownership and scope - has worked hard to deepen its global links; it has sold bonds in a range of international jurisdictions; it has seen a surge in its lending; and it has had its credit ratings upgraded by three agencies.

All this happened during a period in which Latin markets were, for the most part, booming. Enrique García, CAF's president, tells LatinFinance that the importance of multilateral development banks stretches beyond filling the gaps when commercial lenders retreat during a downturn.

"Institutions like CAF and the multilateral banks are crucial to the member countries when the situation is difficult in...

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