CAF Development Bank of Latin America, a Venezuela-based multilateral financial institution that was formerly known as the Corporacion Andina de Fomento, recently partnered with Telesalud de Venezuela, a telemedicine firm that offers health services in rural and other underserved areas in Latin America, to pilot a health microinsurance project in Ecuador. According to Andrew Perry of US-based EA Consultants, the service links medical providers in rural and other low-income areas with an unspecified microinsurance scheme as well as Telesalud, which provides the medical providers with training and medical equipment, including an internet-linked micro-electrocardiogram (micro-EKG) machine for diagnosing heart ailments. Through the service, users can also hold remote diagnostic consultations with specialists at an unspecified university hospital. This enables microinsurance clients to receive specialist services through their primary care physicians without needing to travel long distances.
As of 2013, CAF reports total assets of USD 27.4 billion and a gross loan portfolio of USD 18 billion disbursed within nine countries in Latin America. As of 2013, its shareholder structure is comprised of 19 countries from Latin America, the Caribbean and Europe as well as 14 private banks from the Andean region.
By Charlotte Newman, Research Associate
About CAF Development Bank of Latin America
Established in 1970 and headquartered in Caracas, Venezuela, CAF is a multilateral financial institution that provides loans for purposes such as microfinance, infrastructure and health throughout Latin America and the Caribbean. Formerly known as Corporaci?n Andina de Fomento, it also provides financial advisory services and technical assistance. As of 2013, CAF reports total assets of USD 27.4 billion and a gross loan portfolio of USD 18 billion disbursed in nine countries in Latin America. As of 2013, its shareholder structure is comprised of 19 countries from Latin America, the Caribbean and Europe as well as 14 private banks from the Andean region.
Sources and Additional Resources:
EA Consultants: “Telemedicine in Ecuador: a new model for rural health access”
MicroCapital: “MICROFINANCE PUBLICATION ROUND-UP: Maize Insurance in Burkina Faso, Risks to Microfinance in Pakistan, Claims Analysis in Health Microinsurance”
MicroCapital: “SPECIAL FEATURE: Striving for Consistency: An Effort to Standardize Impact Assessments in Microinsurance”
MicroCapital Universe Profile: CAF Development Bank of Latin America
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