US$60 million for Colombia

(Caracas, June 20, 2006).- The Andean Development Corporation (CAF) approved US$60 million for Colombia through an uncommitted revolving line of credit in favor of Empresas Públicas de Medellín (EPM) to provide short-term finance for routine company operations.

CAF President & CEO Enrique García explained that "with the establishment of a short-term revolving credit facility, we will be able to respond rapidly and opportunely to the short-term financing needs of this important Colombian company." He added, "This is one of the forms of financing that CAF offers its shareholder countries, responding to the needs of public companies to provide them with flexible and timely support."

EPM is an industrial and commercial utility owned by the Medellín City Government, created in 1955 to provide public services of waterworks, sewage, power and distribution of fuel gas. Recently this company, which is one of the most important in the region, has been expanding its commercial activities to other cities in the country to establish itself as the leading public service utility in western Colombia.

Colombia can count on CAF for its sustainable development CAF has been supporting the Republic of Colombia in its efforts to achieve sustainable development. During the last five-year period (2001-2005) the multilateral financial organization approved operations for this country for a global amount of US$4.34 billion, an average of US$869 million a year, equivalent to 24% of total approvals in the period.