CAF okays US$175m loan for Trinidad and Tobago

Trinidad and Tobago, following the lender’s approval, will receive a loan to the tune of US$175 million ($1.19 billion) from The Development Bank of Latin America, also known as CAF. 

According to recent reports, the loan is to be applied to different projects aimed at modernizing the country’s infrastructure, especially in the transportation sector.

As part of steps to achieve this goal, the CAF believes that it would have to develop plans, consider regulatory modifications, strategize and implement specific initiatives that will drive up investments and lead to a more modern transport system.

“The loan will be used for institutional strengthening, particularly updating plans, strategies and modernizing the regulatory framework of process management, such as updating laws related to land transport, developing a policy for the maritime sector, plan strategies for public transport and the air sector, quality systems, etc,” CAF said. 

Between 2016 and 2020, CAF released over US$1.15bn in loans to Trinidad and Tobago, amounting to approximately US$288 million yearly.