Cuatrecasas has advised Bancolombia on COP 400,000 million financing for the Plan 500 by the Institute of Infrastructure and Concessions of Cundinamarca (ICCU). This road infrastructure project, aimed at improving 500 kilometers of secondary roads, is funded by the Department of Cundinamarca.
Bancolombia structured the financing through an innovative public credit transaction granted to ICCU. This is not the first time that the financial institution has participated in this type of transactions, having previously been involved in many infrastructure projects to support community development and wellbeing.
This transaction marks an important precedent for secondary roads being funded by departmental revenue, while reaffirming the commitment of the Bancolombia Group and Cuatrecasas to developing the country’s road infrastructure.
Bancolombia acted as sole lender in the transaction. The main source of funding for the loan lies in the revenue from certain departmental tolls run by ICCU.