ARIAS Advises FinDev Canada on Sustainable Infrastructure Financing

ARIAS advised FinDev Canada in connection with a senior unsecured bilateral credit facility of up to USD 30 million granted to CIFI to finance sustainable infrastructure projects across Latin America and the Caribbean.

According to the parties, the transaction is intended to strengthen the relationship between both institutions and expand access to financing for private sector infrastructure projects in Official Development Assistance (ODA)-eligible countries. The financing is expected to support sectors including energy, water and sanitation, transportation, and telecommunications.

The transaction aligns with regional sustainable development priorities. Seventy percent of the proceeds are expected to support climate-related projects, particularly mitigation initiatives, while the remaining 30% will be allocated to 2X-aligned businesses aimed at promoting women’s economic participation and inclusive business practices.

ARIAS acted as external legal counsel to FinDev Canada, providing legal support that included the review of the New York law-governed loan agreement and related transaction documents from a Panamanian law perspective; the preparation of Panamanian law-governed documentation; support in negotiations with CIFI; coordination and review of conditions precedent; and the issuance of a Panamanian legal opinion regarding the enforceability of the financing documents.

The legal team was led by Senior Associate Missuly Clark, with the participation of Partner María Cristina Fábrega.

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