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Colombia to Launch New Development Bank: Minister

Mar 18, 2013

Colombia is poised to launch a new national development bank with a target capital base of $1bn, finance minister Mauricio Cardenas tells LatinFinance. The new entity, Financiera de Desarrollo Nacional (FDN), will be launched on April 1 with initial capital of roughly $150m and will provide equity capital and credit enhancement to infrastructure project financings in the country. Former International Finance Corporation (IFC) official Clemente del Valle has been appointed...

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