CAF, China Close to Loan Management Pact

CAF and the China Development Bank (CDB) are planning to sign loan management agreement, with a formal announcement expected this month. “We are presently working on expanding our relationship with the CDB. We discussed loan management and agreed it was a good idea to pursue,” CAF CFO Hugo Sarmiento tells LatinFinance. He says it is too early to give any specific details, but a memorandum of understanding should come “in the next few weeks.” CDB, the Chinese government’s main means of lending abroad, and has this year signed LatAm loans including $10bn for Petrobras and $1bn to America Movil. CDB is planning to open a Rio de Janeiro office as soon as 2010.