CAF to Co-finance More than 176 km of Colombia’s 4G Program
The Autopista al Mar (Highway to the Sea) Project is set to cover as many as 12 cities across Colombia’s Antioquía Department, as well as Greater Medellín, benefiting more than two million people.
CAF- Development Bank of Latin America will provide financing to the Autopista al Mar 1 Project, which was assigned to concessionary Vía al Mar (Devimar S.A.S.), which will conduct the study, design, construction, rehabilitation, operation and maintenance of 176 km of roads in Antioquía.
The project will connect with other related 4G concessions, specifically Autopista Mar 2 - in Cañasgordas - to the North and Conexión Pacífico 1 and 2 - in Bolombolo - to the West.
The financing contract, materialized in a public-private partnership essential for the development of such megaprojects, will contribute to the improvement of the country’s land connectivity, as well as streamline commercial activities and promote an efficient integration between regions.
CAF will contribute 133.62 million Colombian pesos to this important project, adding to the 1.5 trillion pool intended for the corresponding section,provided in part by other financial institutions, such as the BID, Colombia’s Financiera de Desarrollo Nacional (FDN), the Official Credit Institute and BlackRock Infrastructure Management I, LLC. CAF has worked closely with FDN in the development of a funding line in local currency, which will allow to provide Colombian pesos for infrastructure projects.
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