World Bank investing in Colombia's infrastructure financing body

Monday, October 13, 2014

The World' Bank's IFC is investing US$70mn in Colombia's development financing agency FDN, part of a plan to boost infrastructure in the South American country.

Last year, FDN and IFC – which has invested US$1.5bn in projects in Colombia – signed an agreement to create a fund to select and structure PPP infrastructure projects.

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"With this funding, FDN will have a greater capacity to finance the different infrastructure projects that are a priority for the country," Colombia's finance minister Mauricio Cárdenas said in a statement.

FDN is expected to supply 5tn-7tn pesos (US$2.6bn-3.7bn) for Colombia's 50tn-peso highway program dubbed 4G.

So far, Colombia has signed five 4G highway contracts for 5.8tn pesos and has launched four more tenders.

BNamericas will host its 5th South America Infrastructure Summit in Colombia on October 22-23.