CAF Approves $850 Mln in Loans to Venezuela

The Andean Finance Corporation (CAF) gave the go ahead to three loans to Venezuela totaling $850 million to finance housing and transportation programs and underwrite a $50 million bond offering from Electricidad de Caracas, a private utility. CAF also agreed to lend $60 million to Empresas Publicas de Medellin, which runs public services in the Colombian city of the same name.