The Inter-American Development Bank (IADB) is seeking to invest $2.6 billion in projects with Colombian businesses in five cities throughout the country, Caracol Radio reported Monday.
The bank will be looking for projects in which to invest as well as presenting financial products and services to micro, small, medium and large businesses. The presentations will take place between August 8 and 12 in the Chambers of Commerce of Cali, Medellin, Barranquilla, Bucaramanga and Pereira.
At the request of its member countries, the IADB decided to increase its financing to the private sector in Latin America and the Caribbean and hopes to extend $2.6 billion.
The financial body chose Colombia as the first country in which to launch this initiative due to the dynamism displayed by local and foreign investment in recent years as well as the country’s improved credit rating and the central role played by the private sector in the national economy.
The IADB will be looking for projects that promote social inclusion and widen access to basic services. The bank is also interested in projects that help to mitigate the effects of climate change, modernize infrastructure and increase competitiveness.
The first meeting will take place in Cali on Monday, August 8 with bank president, Luis Alberto Moreno in attendance.