Interview: FDN CEO Clemente del Valle

Sep 26, 2017

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

Mick Bowen

Keywords: loans infrastructure project finance development banks Financiera de Desarrollo Nacional FDN Clemente del Valle IFC 4G

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 says it...

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