(PRESS RELEASE) – CAF Development Bank of Latin America- approved a USD 50 million loan to mitigate the Covid-19 health crisis in Trinidad and Tobago.
This loan is added to the USD 400.000 donation that the financial institution made on April 3rd and will be complemented by further anti-cyclic support to mitigate the effects of the epidemic on economic activity.
The present loan aims to strengthen Trinidad and Tobago’s capacity to respond to and prevent the crisis caused by COVID-19, through direct financial resources and the recognition of expenses and investments aimed at reducing risk or mitigating the impact of the pandemic in the health of the population.
“These emergency funds will back the Government of Trinidad and Tobago in its efforts to fight Covid-19 from different fronts, from improving health services to preserving the country´s economic resilience”, said Luis Carranza, CEO of CAF.
To cope with the effects of the pandemic in Latin America, early in March 2020 CAF offered its member countries an emergency regional credit line of USD 50 million per country for health emergency investments, and in April 2020 approved a regional anti-cyclic facility of USD 2.500 million.