Colombian development finance agency Financiera de Desarrollo Nacional (FDN) has received a $50 million USD line of credit from the Central American Bank for Economic Integration (BCIE), the organization announced this week.
FDN intends to use the financing to grant new dollar-based loans for infrastructure projects, particularly those within the nation’s massive 4G road and transportation network overhaul.
The Bogotá-based agency has already helped facilitate some 20 trillion pesos ($7 billion USD) in financing for 4G projects and is encouraged that this additional access to capital will help further support that goal.
“Thanks to this line of credit we will be able to increase our capacity to lend in dollars for projects that require it,” said Clemente del Valle, president of FDN. “With this credit line, we expand our funding options when it comes to competitive conditions and for the long term. This is undoubtedly more momentum for 4G Program and other infrastructure projects.”