Argentina will invest about $190 million in development bank Corporacion Andina de Fomento (CAF), The Wall Street Journal reports. The contribution will help in developing the region’s multilateral institutions amid early signs of a new global recession.

The allocation will be made in seven annual installments starting with $10 million in 2011. The Caracas-based CAF, which offers loans for infrastructure projects and loan guarantees, made loans for $26.34 billion during the 2006-2010 period.

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