Colombia: USD 200 million to Empresas Publicas de Medellin (Public Companies of Medellin) for Infrastructure Projects
CAF announced a loan aimed at the energy, gas, water, and sanitation sectors.
(Lima, December 3, 2013). To support the strengthening of Colombian infrastructure, CAF -Development Bank of Latin America- approved a loan for USD 200 million to Public Companies of Medellin (EPM, for its acronym in Spanish), aimed at the execution of the company's investment plans for 2014 and 2015.
The objective of this operation is to support the expansion of infrastructure projects for public services, led by EPM which, as a first line actor in Colombia's energy chain, is increasingly expanding in Latin America. Currently, the EPM group is present in Central America, Mexico, and Chile, positioning itself as a multi-Latin public services company.
"Enrique Garcia, CAF's Executive President, stated that "the deficiencies regarding infrastructure constitute a severe restriction for the possibilities of improving the people's quality of life, therefore, it is considered a key factor in the development strategy promoted by CAF in the region.
Previously, CAF supported EPM in projects that promote Colombian development. Specifically, the Institution granted a loan for USD 92.2 million to finance the expansion of a gas generating plant, and another loan for USD 60 million to Orbitel S.A., a subsidiary of EPM at the time.
With this operation, the Institution shows its support to national companies with ample technical expertise in the execution of projects that guarantee the country's development in the energy, gas, water, and sanitation sectors.
Empresas Públicas de Medellín E.S.P. (EPM) (Public Companies of Medellin) is a decentralized municipal entity, created in Colombia in August 1955 as an autonomous public establishment, and in December of 1997 it was transformed into a State owned municipal industrial and commercial company.
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