Interview: FDN CEO Clemente del Valle
Financing Colombia’s 4G toll road concessions is getting tougher as local and global lenders are squeezed. But now the national development bank is betting on some new routes to attract capital
When the Colombian government designed the fourth generation
(4G) of toll road concessions, it decided to make the projects
large enough to attract international developers. But as the
program advanced, and as eight projects worth a combined 12.6
trillion pesos ($4.24 billion) reached financial close last
year, the initial expectations that the local banking sector
could finance the roads alone proved shortsighted.
Through the national development bank Financiera de
Desarrollo Nacional (FDN), the government has pursued various
measures to diversify funding sources. These include
encouraging new debt funds and lending in pesos to foreign
banks that support the 4G projects.
But the plans do not end there. FDN CEO Clemente del Valle
spoke to LatinFinance about future efforts to ensure
financing for all 32 roads in the 4G program.
LatinFinance: Development banks across Latin America
take on a large part of infrastructure financing, but the FDN
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