IDB announces support to Colombia's concessions program

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IDB announces support to Colombia's concessions program

The Inter-American Development Bank (IDB) has expressed interest in financing Colombia's fourth generation of highways concessions (4G).

Luis Fernando Andrade, the President Colombia's National Infrastructure Agency, received a letter from IDB's Chief of Infrastructure Finance, Jean - Marc Aboussouan, expressing the interest.

In that letter, the IDB indicated that it will consider providing long-term loans and guarantees of up to 25 percent of the total cost of each project, but with a limit of US$200 million per project.

Colombia has commenced the transformation of the road infrastructure sector. The idea is to eliminate the backlog accumulated through many years, to integrate the country and improve its competitiveness in the face of Free Trade Agreements (FTA). By the end of this decade Colombia will have made a significant qualitative and quantitative jump in the area of road infrastructure.

This is the reason behind the development of the Fourth Generation (4G) of the Road Concessions Program. This ambitious program includes 40 projects to build some 8,000km with a total investment of US$25 billion during the course of the next seven years. Projects will be carried out under a Public Private Partnership (PPP) approach and will furnish a road infrastructure more suitable to the economic development of the country.

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