EIB mulls US$400mn loan for Colombian water, energy projects
The European Investment Bank (EIB) is considering a US$400mn loan to support water, sanitation and energy projects of Colombia's Empresas Públicas de Medellín (EPM).
The funds would be allocated to initiatives that promote water management and renewable energy generation infrastructure, according to documents on the lender’s website.
"This operation is in line with EU priorities for Colombia and eligible under the EIB Global Financial Facility (GGF), as it contributes to climate change adaptation and mitigation, as well as to the development of social and economic infrastructure," the EIB said.
It did not specify details of each project but said the total cost of the developments was estimated at US$900mn.
If approved, the loan would be the first direct EIB operation with EPM.
"The promoter has experience regarding compliance with standards and procedures from other international financial institutions, more specifically with World Bank and Inter American Development Bank," the EIB added.
More information can be seen here
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