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Banco Hipotecario del Uruguay gets $50M loan from CAF

Banco Hipotecario del Uruguay obtained approval for two lines of credit worth $50 million from Banco De Desarrollo De América Latina, or CAF, to expand its mortgage portfolio, El País reported.

The mortgages, which will be denominated in Uruguayan pesos and adjusted for inflation, will be directed at projects that improve energy efficiency.

Currently, the bank's nonperforming loan ratio for this type of mortgage is less than 1% of total loans, the publication added.