(MENAFN- Caribbean News Global) VENEZUELA – CAF, the development bank of Latin America and the Caribbean, held its board of directors meeting, approving USD 1.086 billion for strategic operations in Brazil, Colombia, Uruguay, and Chile .

The 56th board meeting consolidates the institution's commitment to sustainable development, climate action, and the modernisation of critical infrastructure throughout the region.

The approved funds will be allocated to transformative projects, including the reactivation of the Colombian railway system, strengthening water security in the Montevideo Metropolitan Area, urban modernisation in Brazil, and expanding credit lines to boost SMEs and green projects in Chile.

Approved operations:

• Brazil: Comprehensive urban development in Cabo de Santo Agostinho

CAF approved USD 96 million for the“Urban Infrastructure and Development Program – Cabo de Santo Agostinho/PE,” an initiative that will benefit more than 200,000 residents through strategic investments in urban mobility, basic sanitation, social infrastructure, and climate resilience measures.

• Colombia: Reactivation of railway transport

The board of directors approved USD 300 million for the“Program to Support Railway Reactivation, Sustainable Mobility, and Logistics Efficiency in Colombia.” This strategic program will support the reactivation of the Colombian railway system, the electrification of public transportation, and the reduction of logistics costs, strengthening the country's competitiveness and significantly contributing to the reduction of carbon emissions.

• Uruguay: Water security for two million people

CAF will allocate USD 130 million for the construction of the Casupá Dam in the Santa Lucía River Basin. This strategic project will strengthen the drinking water supply to the Montevideo Metropolitan Area until 2045, benefiting 60% of the Uruguayan population. The infrastructure will have a storage capacity of 118 hm3 and will ensure water supply during periods of severe drought.

• Colombia: Airport and air navigation modernisation

The board of directors approved a USD 60 million increase in funding for Aerocivil, bringing the total to USD 300 million to modernise the country's airport and air navigation system. The funds will allow for the implementation of advanced navigation technologies, the expansion of strategic regional airports, and the creation of a project management office.

• Chile: Boosting SMEs and green projects

CAF approved a USD 100 million increase in the revolving credit line to Banco Estado de Chile, bringing the total to USD 300 million. The funds will be used to strengthen access to financing for micro, small, and medium-sized enterprises, with an emphasis on women-led ventures, energy efficiency projects, green businesses, and sustainable social housing.

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