Latam lender CAF to more than double loans in four years

SANTIAGO Sun Jan 27, 2013 11:27am EST

SANTIAGO Jan 27 (Reuters) - Latin America's CAF development bank plans to more than double the amount of loans it issues in the next four years to at least $34 billion, the lender's president said on Sunday. 

CAF is a major lender to Latin American infrastructure and development projects.

"The portfolio is currently at $17 billion and the projection that we have for the next four years is that this will more than double," Enrique Garcia told Reuters during a summit of Latin American and European leaders in Chile.

The CAF plans to approve loans for some $10 billion this year, the same as in previous years, he added.

Roughly 45 percent of the portfolio of loans goes to infrastructure projects, while approximately 25 percent is destined for social projects, Garcia said.

Argentina, Brazil, Colombia and Venezuela are the main loan recipients, but no country currently receives more than 16 percent of the total, he added.

The Inter-American Development Bank said when asked by Reuters on Saturday it would lend around $12 billion to the region this year, up slightly from 2012 levels.

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