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IDB approves US$60 million for Colombia for road integration

The Inter-American Development Bank announced the approval of a US$60 million loan to the Department of Antioquia, Colombia, for a program to improve its transportation infrastructure.

The program will benefit the local population through improvements of the department’s secondary road network. In addition the program will provide technical, institutional and financial assistance to  local governments through the development of small works to expand existing programs (Rutas de Vida, rural bridges, rural cableways) and adding new works (tertiary road network and horse trails).

During its execution the program will receive the support of a technical cooperation provided by the Japanese Special Fund, the Korean Fund for Poverty Reduction and the Gender Mainstreaming Trust Fund.

The total cost of the program is US$180 million, with US$60 million in financing from the IDB. Local counterpart resources from the Antioquia Governor’s Office budget (US$84 million) and from  municipal governments and other participants (US$36 million). The loan disbursement period is five years with an amortization period of 25 years.

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