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T&T gets $50 mln from CAF

T&T gets $50 mln from CAF

April 20, 2020
South American development bank provides "anti-cyclical support" during coronavirus crisis

Coronavirus Loans Debt Corporate & Sovereign Strategy Economy & Policy Trinidad & Tobago Caribbean

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South American development bank CAF said it approved a $50 million loan to Trinidad and Tobago to provide "anti-cyclical support" to the economy during the coronavirus pandemic.

The funding will go to increasing healthcare services in the Caribbean nation and "preserving the country's economic resilience," CAF CEO Luis Carranza said in a press release.

CAF gave Trinidad and Tobago a $400,000 donation on April 3 to deal with the outbreak.

The development bank offered in March loans of $50 million each to its member nations and approved last week a new credit line for $2.5 billion.