The Inter-American Development Bank (IDB) and Financiera de Desarrollo Nacional (FDN) have signed an agreement equivalent to approximately US$200 million to promote infrastructure investments in Colombia.

FDN will provide up to COP330 billion (US$110 million), and the IDB up to COP270 billion (US$90 million) for long-term lending in local currency.

The loan proceeds will be allocated by IDB Invest and the IDB to finance infrastructure projects in Colombia, including public-private partnerships (PPP). In particular, this loan will give a big boost to the 4G Track Program, and it is expected to help accelerate financial closures.

This project is the first agreement signed under the new IDB Invest brand, as a private sector arm of the IDB Group. It also emphasizes the focus on PPPs to close the infrastructure financing gap and the importance of leveraging local currency to adapt products to the needs of clients.