CAF – Latin American development bank – has the mission of stimulating sustainable development and regional integration by financing projects in the public and private sectors, and providing technical cooperation and other specialized services. Founded in 1970 and currently with 18 member countries from Latin America, the Caribbean, and Europe along with 14 private banks, CAF is one of the main sources of multilateral financing and an important generator of knowledge for the region. For more information visit www.caf.com

CAF is headquartered in Caracas

Caracas

Caracas , officially Santiago de León de Caracas, is the capital and largest city of Venezuela; natives or residents are known as Caraquenians in English . It is located in the northern part of the country, following the contours of the narrow Caracas Valley on the Venezuelan coastal mountain range...

, Venezuela

Venezuela

Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...

. Additionally, it has Representative Offices in the cities La Paz

La Paz

Nuestra Señora de La Paz is the administrative capital of Bolivia, as well as the departmental capital of the La Paz Department, and the second largest city in the country after Santa Cruz de la Sierra...

, Brasilia

Brasília

Brasília is the capital city of Brazil. The name is commonly spelled Brasilia in English. The city and its District are located in the Central-West region of the country, along a plateau known as Planalto Central. It has a population of about 2,557,000 as of the 2008 IBGE estimate, making it the...

, Bogota

Bogotá

Bogotá, Distrito Capital , from 1991 to 2000 called Santa Fé de Bogotá, is the capital, and largest city, of Colombia. It is also designated by the national constitution as the capital of the department of Cundinamarca, even though the city of Bogotá now comprises an independent Capital district...

, Quito

Quito

San Francisco de Quito, most often called Quito , is the capital city of Ecuador in northwestern South America. It is located in north-central Ecuador in the Guayllabamba river basin, on the eastern slopes of Pichincha, an active stratovolcano in the Andes mountains...

, Panama

Panama

Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...

, Montevideo

Montevideo

Montevideo is the largest city, the capital, and the chief port of Uruguay. The settlement was established in 1726 by Bruno Mauricio de Zabala, as a strategic move amidst a Spanish-Portuguese dispute over the platine region, and as a counter to the Portuguese colony at Colonia del Sacramento...

, and Lima

Lima

Lima is the capital and the largest city of Peru. It is located in the valleys of the Chillón, Rímac and Lurín rivers, in the central part of the country, on a desert coast overlooking the Pacific Ocean. Together with the seaport of Callao, it forms a contiguous urban area known as the Lima...

.

History

The creation of CAF began to take place in 1966 following the historic signing of the Declaration of Bogotá in the presence of its framers, President Carlos Lleras Restrepo

Carlos Lleras Restrepo

Carlos Lleras Restrepo was a Colombian lawyer and political figure, President of Colombia .- Biographic data :...

 of Colombia

Colombia

Colombia, officially the Republic of Colombia , is a unitary constitutional republic comprising thirty-two departments. The country is located in northwestern South America, bordered to the east by Venezuela and Brazil; to the south by Ecuador and Peru; to the north by the Caribbean Sea; to the...

, President Eduardo Frei Montalva

Eduardo Frei Montalva

Eduardo Frei Montalva was a Chilean political leader of world stature. In his long political career, he was Minister of Public Works, president of his Christian Democratic Party, senator, President of the Senate, and president of Chile from 1964 to 1970...

 of Chile

Chile

Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...

, the president of Venezuela

Venezuela

Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...

 at that time, Raúl Leoni

Raúl Leoni

Raúl Leoni Otero was President of Venezuela from 1964 until 1969. He fought against the dictators Juan Vicente Gómez and Marcos Pérez Jiménez, and was a charter member of the Acción Democrática party....

 and the personal representatives of the presidents of Ecuador

Ecuador

Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...

 and Peru

Peru

Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....

. The government of Bolivia

Bolivia

Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America...

 would join later in 1967. In 1967, a Joint Commission, set up to address regional issues, mapped out the basic principles of CAF, and on February 7, 1968 the member countries governments signed its Establishing Agreement in San Carlos Palace, Bogotá

Bogotá

Bogotá, Distrito Capital , from 1991 to 2000 called Santa Fé de Bogotá, is the capital, and largest city, of Colombia. It is also designated by the national constitution as the capital of the department of Cundinamarca, even though the city of Bogotá now comprises an independent Capital district...

. The Corporation was conceived as a multipurpose bank and agency for promoting Andean development and integration. Two years later on June 8, 1970, after opening its headquarters in Caracas, Venezuela, CAF formally began operations.

The Cartagena Agreement was signed in May 1969 one year after CAF Establishing Agreement which created the political framework for the Andean subregional group. CAF began operations with a subscribed capital of $25 million.

In 1971, Bolivia and Ecuador became the first countries to receive loans for the execution of projects: a rice storage network ($1.3 million) and a fisheries complex for catching and freezing tropical tuna ($0.5 million).

Member states

Argentina

Argentina

Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...

 Bolivia

Bolivia

Bolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America...

 Brazil

Brazil

Brazil , officially the Federative Republic of Brazil , is the largest country in South America. It is the world's fifth largest country, both by geographical area and by population with over 192 million people...

 Chile

Chile

Chile ,officially the Republic of Chile , is a country in South America occupying a long, narrow coastal strip between the Andes mountains to the east and the Pacific Ocean to the west. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, and the Drake Passage in the far...

 Colombia

Colombia

Colombia, officially the Republic of Colombia , is a unitary constitutional republic comprising thirty-two departments. The country is located in northwestern South America, bordered to the east by Venezuela and Brazil; to the south by Ecuador and Peru; to the north by the Caribbean Sea; to the...

 Costa Rica

Costa Rica

Costa Rica , officially the Republic of Costa Rica is a multilingual, multiethnic and multicultural country in Central America, bordered by Nicaragua to the north, Panama to the southeast, the Pacific Ocean to the west and the Caribbean Sea to the east....

 Dominican Republic

Dominican Republic

The Dominican Republic is a nation on the island of La Hispaniola, part of the Greater Antilles archipelago in the Caribbean region. The western third of the island is occupied by the nation of Haiti, making Hispaniola one of two Caribbean islands that are shared by two countries...

 Ecuador

Ecuador

Ecuador , officially the Republic of Ecuador is a representative democratic republic in South America, bordered by Colombia on the north, Peru on the east and south, and by the Pacific Ocean to the west. It is one of only two countries in South America, along with Chile, that do not have a border...

 Jamaica

Jamaica

Jamaica is an island nation of the Greater Antilles, in length, up to in width and 10,990 square kilometres in area. It is situated in the Caribbean Sea, about south of Cuba, and west of Hispaniola, the island harbouring the nation-states Haiti and the Dominican Republic...

 Mexico

Mexico

The United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...

 Panama

Panama

Panama , officially the Republic of Panama , is the southernmost country of Central America. Situated on the isthmus connecting North and South America, it is bordered by Costa Rica to the northwest, Colombia to the southeast, the Caribbean Sea to the north and the Pacific Ocean to the south. The...

 Paraguay

Paraguay

Paraguay , officially the Republic of Paraguay , is a landlocked country in South America. It is bordered by Argentina to the south and southwest, Brazil to the east and northeast, and Bolivia to the northwest. Paraguay lies on both banks of the Paraguay River, which runs through the center of the...

 Peru

Peru

Peru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....

 Portugal

Portugal

Portugal , officially the Portuguese Republic is a country situated in southwestern Europe on the Iberian Peninsula. Portugal is the westernmost country of Europe, and is bordered by the Atlantic Ocean to the West and South and by Spain to the North and East. The Atlantic archipelagos of the...

 Spain

Spain

Spain , officially the Kingdom of Spain languages]] under the European Charter for Regional or Minority Languages. In each of these, Spain's official name is as follows:;;;;;;), is a country and member state of the European Union located in southwestern Europe on the Iberian Peninsula...

 Trinidad and Tobago

Trinidad and Tobago

Trinidad and Tobago officially the Republic of Trinidad and Tobago is an archipelagic state in the southern Caribbean, lying just off the coast of northeastern Venezuela and south of Grenada in the Lesser Antilles...

 Uruguay

Uruguay

Uruguay ,officially the Oriental Republic of Uruguay,sometimes the Eastern Republic of Uruguay; ) is a country in the southeastern part of South America. It is home to some 3.5 million people, of whom 1.8 million live in the capital Montevideo and its metropolitan area...

 Venezuela

Venezuela

Venezuela , officially called the Bolivarian Republic of Venezuela , is a tropical country on the northern coast of South America. It borders Colombia to the west, Guyana to the east, and Brazil to the south...

External links

• http://www.foreignpolicy.com/images/070627_CAF_web.pdf - more info