As part of the fourth generation (4G) highway concessions, the Cesar-Guarija project is the fourth private sector project to accredit financial closure with the ANI.
"With the Cesar-Guajira private sector initiative, road safety will be strengthened, commercial relations will be improved and travel time will be reduced. This project is definitely another incentive for increased productivity in the region and will allow the number of tourists in the area to be boosted," ANI president Luis Fernando Andrade said in a statement from the infrastructure agency.
The financial closure was achieved through commitments by Colombian bank Bancolombia.
The project includes 350km of highway of which 233km are improvement works and 166.5km are routine maintenance works.
The road will connect Cesar and La Guajira departments and will provide access to the Venezuelan border.