Corporación Andina de Fomento (2018-2021 SEC Filings)

Date issued: Oct. 18 2021

Last substantive commentary amendment:
Mar. 11 2024

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TURBOFAC Commentary (1136 words)

Notes:

[3-11-24 update - see Corporación Andina de Fomento (2024 SEC Filing)]

[UPDATE See key Case No. MUL-2013-304318-1 and comments thereto building on this item. The below has not been updated to reflect the addition of Case No. MUL-2013-304318-1 to the Research System].


1) BACKGROUND

The Corporación Andina de Fomento (CAF) – Banco de Desarrollo de América Latina (development bank of Latin America) is a multilateral development bank of which ~90% of the ownership is accounted for by 11 governments, of which the blocked Government of Venezuela is one (see p. 39 of the 2021 filing at the external link). The primary function of the bank is the making of loans to shareholder countries. Loans to the Central Bank of Venezuela, which was blocked pursuant to EO 13884 and EO 13850...