CAF Agrees Colombia Loans

The Andean Development Corporation (CAF) has agreed to loans totaling $250 million to Colombia to strengthen its institutions and competitiveness. The first of two loans is for $150 million, to go to the Program of Reforms for Competitive Insertion in International Markets, which aims to improve the country’s competitive insertion, opening up and adapting the financial platform, and upgrading technology. The second loan, for $100 million, covers the Consolidation Program for Constitutional Reform in the area of pensions.