OPIC Reaffirms Commitment to Colombia and Latin America
July 18, 2018
(OPIC)
BOGOTA, Colombia - The Overseas Private Investment Corporation (OPIC) on Tuesday
reaffirmed its commitment to investing in development in Latin America.
“Latin America is a longstanding OPIC priority and Colombia is a key part of
our strategy to invest more across the region,” said OPIC Vice President Ryan
Brennan. “We look forward to partnering with Colombia’s new government to
invest in projects that drive economic growth, build critical infrastructure and
create jobs and opportunity in Colombia and throughout Latin America.
Brennan was in Colombia to participate in a discussion on Colombia’s economy
and trade at the Concordia Americas Summit, a gathering where leaders from
business and government discuss the political and economic priorities for the
region. His trip marks the second time OPIC leaders have traveled to Colombia
since Ivan Duque Marquez was elected President last month, and coincides with
multiple recent OPIC commitments to projects in Colombia.
In June OPIC’s board approved $250 million in financing to support
construction of the four-lane Rumichaca-Pasto toll road in southwestern
Colombia, which is expected to serve almost seven million vehicles per year by
2020. This week, OPIC announced up to $50 million in financing to Avenida
Capital’s Colombia Real Estate Fund II, to support the development of low- and
middle income housing and sustainable commercial and mixed used projects in
urban areas.
Latin America today accounts for almost one quarter of OPIC’s $23 billion
global portfolio.
OPIC, the U.S. Government’s development finance institution, has in recent
months launched several initiatives to help drive investment to the region
including the 2X Americas Initiative to mobilize $500 million to projects that
will support women in Latin America; the Northern Triangle Initiative to
mobilize $1 billion in investment as a stabilizing force in El Salvador,
Guatemala and Honduras; and an expanded focus on energy investment across Latin
America.
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