CAF to disburse US$6bn for development projects up to 2014

- Wednesday, January 19, 2011

CAF to disburse US$6bn for development projects up to 2014

Latin American development bank CAF will allocate US$6bn to Colombia by end-2014 for public and private sector projects in areas such as infrastructure, transport and the environment, the bank said in a release.

The plans fall under Colombia's national development plan, according to CAF executive president Enrique Garcia.

The bank has supported numerous development projects in the country including the La Linea tunnel project in Tolima and Quindio departments, Bogota's Transmilenio mass transport system and the double-lane Buga-Buenaventura highway in Valle del Cauca department.

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The energy, social, financial, banking and microfinance sectors will also benefit from this initiative. Prior to this program, 57% of CAF financing has gone to the public sector, according to the release.