BUENOS AIRES (Dow Jones)--The Andean Development Corporation, or CAF, has extended $672 million dollars in development loans to Argentina.
The loans from the Caracas-based multilateral organization will be used for public works and technology development, the CAF said in a press release Thursday.
Part of the lending packet will involve $240 million to extend the useful life for the Embalse nuclear plant.
The CAF is a development bank established in 1970 and now has 18 member countries from Latin America, the Caribbean and Europe as well as 14 private banks from the Andean region of South America.
Argentina has contributed about $1.8 billion to the CAF, an amount representing 15% of the organization's capital, Argentina's Economy Minister said in a press release.
The CAF has extended over $2.7 billion in credit to Argentina since the country became a shareholder in 2007, CAF said.
-By Shane Romig, Dow Jones Newswires; 54-11-4103-6738;
This e-mail address is being protected from spambots. You need JavaScript enabled to view it
Source: http://online.wsj.com/article/BT-CO-20100729-722484.html
