CAF approves loan to Soboce

CAF approves loan to Soboce
Published: 05 July 2006

The Andean Development Corporation (CAF) has approved a US$25m loan to Bolivia’s largest cement producer, Soboce, CAF reported in a release. Local banks Banco Mercantil, Banco Nacional de Bolivia and Banco BISA will fund an additional US$19.5m.The funding aims to support the company’s growth plan - in which Soboce has invested over US$140m during the last years - and to improve the rates it is paying on its current debt. CAF first granted Soboce US$25m funding during 1990s to finance the expansion of the Viacha plant. The corporation considers aiding the development of the private sector a priority.