Latin American and Dutch Development banks join forces
Corporación Andina de Fomento (CAF) and the Netherlands Development Finance Company (FMO) have signed a Cooperation Agreement during the IMF-World Bank Annual meetings in Washington. The cooperation enhances the effective and efficient use of development sources in Latin America. This will result in better access to financial services for the private sector.
The cooperation agreement has been signed by Executive President Enrique García of CAF and CEO Arthur Arnold of FMO. "Together we have 70 years of experience in promoting sustainable development in Latin America as both CAF and FMO were established in 1970'', Executive President García states. The Cooperation Agreement establishes the formal relationship between CAF and FMO to identify, evaluate, structure and supervise credits for private sector companies and projects in Latin America. FMO's CEO Arthur Arnold: "The CAF-FMO agreement creates an attractive investment climate for the private sector which is the engine for growth." Private infrastructure projects, large and mid-size corporations and financial institutions will benefit from increased access to acceptable terms of financing and substantial loan volumes.
