Multilateral Development Bank of the Year: CAF

Multilateral Development Bank of the Year: CAF

Bonds Structured Finance Venezuela Corporate & Sovereign Strategy

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 multilater

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