Wednesday 8 July, 2020

T&T borrows US$150 million from CAF to combat COVID-19

Eric Williams Financial Complex where loans were signed.

Eric Williams Financial Complex where loans were signed.

The CAF-Development Bank of Latin America has signed two loans with the Government to aid in the country’s response to the COVID-19 pandemic.

The first loan is US$100 million and will provide financial support to programmes implemented to contain the social, economic and financial emergencies generated by the global crisis.

The second loan at US$ 50 million, will contribute to the strengthening of Trinidad and Tobago's healthcare system capacity through direct financial resources and the recognition of expenses and investments. 

These two loans were preceded by a US$400,000 donation that the multilateral organization made to the country on April 3 to boost efforts against the novel coronavirus. CAF has also provided technical assistance by organizing capacity-building webinars for the country’s health personnel.

The loans were signed by Finance Minister Colm Imbert and CAF’s representative for T&T, Gianpiero Leoncini at the Eric Williams Financial Complex. 

To cope with the effects of the pandemic in Latin America, in early March 2020, CAF offered a regional credit line of US$50 million per country to address the health emergency as well as a grant of US$400,000 per country and a regional emergency credit line of US$2.5 billion to support countercyclical economic measures. 




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