ARIAS Panama advised Development Finance Institute Canada (FinDev Canada) in connection with a senior unsecured bilateral credit facility of up to USD 30 million granted to Corporación Interamericana para el Financiamiento de Infraestructura, S.A. (CIFI), aimed at financing sustainable infrastructure projects across Latin America and the Caribbean.
This transaction strengthens the relationship between both institutions and will enable expanded access to financing for private sector infrastructure projects in Official Development Assistance (ODA)-eligible countries, helping address the investment gap in key sectors such as energy, water and sanitation, transportation, and telecommunications.
Aligned with the region’s sustainable development priorities, 70% of the proceeds are expected to support climate-related projects, particularly mitigation initiatives, while 30% will be directed toward 2X-aligned businesses, promoting women’s economic participation and strengthening inclusive practices.
ARIAS acted as external legal counsel to FinDev Canada in this transaction, providing comprehensive legal support that included the review, from a Panamanian law perspective, of the New York law-governed loan agreement and related transaction documents; the preparation of and advice on Panamanian law-governed documentation; support in negotiations with CIFI; review and coordination of conditions precedent; and the issuance of a Panamanian legal opinion on the enforceability of the financing documents.
The team was led by Senior Associate Missuly Clark, with the participation of Partner María Cristina Fábrega.
A transaction that underscores Arias’ ability to structure complex, high-impact financings, seamlessly combining local legal precision with international standards to drive infrastructure development and sustainable growth across Latin America and the Caribbean.