CABEI and FDN sign credit agreement for the development of infrastructure in Colombia

The Central American Bank for Economic Integration (CABEI) and Financiera de Desarrollo Nacional, S.A. (FDN) of the Republic of Colombia signed a global credit line agreement for US$50 million.

The funds will be used to finance operations within the framework of CABEI’s financial intermediation programs through the Productive Sectors Development Program, with emphasis on infrastructure projects.

The agreement was signed by the Executive Vice President of CABEI, Alejandro Rodríguez Zamora, and the Financial Vice President and Alternate Legal Representative, María Clemencia Sierra Peñas.

“This credit line is part of the multilateral bank’s commitment to promote modernization and the productive sector in its partner countries, this time by financing Colombian infrastructure”, said CABEI Vice President, Mr. Rodríguez.

To date, CABEI’s portfolio with the Republic of Colombia is US $186.0 million, and the following loans have been approved: the loan to the P.A. Trust Fund Alto Magdalena and the company Concesión Alto Magdalena, S.A.S. (ALMA), of the Republic of Colombia for US $136.0 million, and the global credit line in favor of Financiera de Desarrollo Territorial, S.A. (FINDETER) for US $50.0 million.

It should be noted that by 2018, CABEI expects to approve operations to finance projects in road and productive infrastructure, energy, water and sanitation, integration and regional trade, with the aim of improving competitiveness and the quality of life of the region’s inhabitants.

Original source: BCIE
Published on 07 June 2018