Colombia Secures Historic $9 Billion Development Bank Deal
- On Friday, Colombia and the Development Bank of Latin America and the Caribbean announced a $9 billion financing agreement to support infrastructure, energy, and social services projects from 2026 to 2030.
- President-Elect Abelardo de la Espriella, who succeeds Gustavo Petro on Aug. 7, faces a wide budget deficit and rising debt-servicing costs as he prepares to take office.
- Sovereign dollar bonds rose after the announcement, with notes due in 2041 trading above 91 cents according to Bloomberg. De la Espriella described the financing as a 'vote of confidence' for Colombia.
- CAF President Sergio Diaz-Granados stated this initiative doubles previous funding levels, equivalent to about 2% of Colombia's GDP. The funds will target both private sector and local governments.
- William Snead, a strategist at Banco Bilbao Vizcaya Argentaria in New York, said this funding approach could reduce Colombia's need to issue hard-currency bonds, potentially encouraging other multilaterals to follow.
12 Articles
12 Articles
Colombia’s New Government Wins Historic $9 Billion CAF Offer
President of the Development Bank of Latin America and the Caribbean, Sergio Díaz-Granados, and the elected president sign a financing agreement focused on safety, health, energy and infrastructure projects
Colombia's New Government Wins Historic $9 Billion CAF Offer
The Latin American development bank CAF plans to provide President-elect Abelardo de la Espriella’s administration with an unprecedented $9 billion in financing over the next four years, easing pressure on the nation’s strained public finances.
The Development Bank of Latin America (CAF) announced a commitment of $9 billion for Colombia until 2030.
The executive president of the Banco de Desarrollo de América Latina (CAF), Sergio Díaz-Granados, confirmed to Bloomberg Línea that he works with the incoming government of Peru in a financing commitment similar to that announced this Friday for Colombia, although he indicated that the amount has not yet been defined.See more: Carlos Slim's América Móvil buys a competing company WOW in Peru"We are working with the Peruvian government already in …
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