Annual Report 2011
In 2011 approvals reached USD 10.1 billion for Latin America in 2011, and a portfolio of USD 15.1 billion, distributed in a balanced manner by country. Fifty percent of approvals allocated to finance economic and integration infrastructure, 30 percent to social and environmental development, and 20 percent to the development of the productive sectors. Approval of an extraordinary increase of USD 2 billion in paid-in capital, to be paid between 2013 and 2016, which will strengthen the Institution´s anti-cyclical mission as one of the main sources of multilateral financing in the region.The increase of paid-in capital will enable the approval of operations in an amount of USD 75 billion during the 2012-2017 period. USD 1.4 billion in bonds issued the US, Japanese, and European markets CAF became the most frequent Latin American issuer in the Swiss market, which was the focus of a special effort. Ratification of the Institution’s risk ratings by Fitch Ratings, Japan Credit Rating Agency, Moody’s Investors Service and Standard & Poor’s. CAF received acknowledgements and awards granted by Euromoney and LatinFinance for innovative financial operations benefiting the private sector. Enrique Garcia was confirmed as Executive President. Among his challenges will be the consolidation of CAF’s Latin American dimension and the deepening of the Institution’s descentralization process. Support for regional integration efforts will be a decisive factor for Latin America to achieve a relevant participation in the global economic and political context.