Colombian ICT Ministry launched $24.4 mm ‘ICT Reactivation’ credit line to boost the technology sector

This new line of credit has a quota of $ 24.4 million and is for MSMEs in this segment of the economy. The maximum amounts of resources to which the MSMEs will be able to access are divided as follows: micro-businesses can request up to $ 13.000, small businesses, up to $ 104.000; and medium-sized companies, up to $ 182.000.

Colombia’s oil production falls to 742,091 bpd in August

Colombia's oil production fell 15.9% year-on-year in August to 742,091 barrels per day (bpd), due to the average impact of the temporary closure of some wells due to the fall in international oil prices and the health emergency due to the coronavirus. the Government reported on Thursday. Average crude oil production between January and August reached 794,330 barrels per day, a 10.57% drop compared to the same period in 2019, when it stood at 888,200 barrels per day. Colombia is the fourth Latin American oil producer, with proven reserves of 2,036 million barrels of crude oil, equivalent to 6.3 years of consumption.

Colombia’s export value plummets 21.3% in August

The value of Colombia's exports fell by 21.3% year-on-year in August to $ 2.57 billion, due to a general decline in sales of goods and services amid the COVID-19 pandemic, figures from the National Department of Statistics (DANE). Between January and August, the value of Colombian exports accumulated a fall of 24.3% to $20,292 million, compared to the same period last year.

Financiera de Desarrollo Nacional de Colombia raises $ 258.7 mm with bonds in the local market

Colombia's Financiera de Desarrollo Nacional (FDN) issued ordinary bonds for one 258.7 million dollars, resources that it will allocate to infrastructure projects in the country, the entity reported on Thursday. The FDN has among its main shareholders the Government, the IFC of the World Bank, the Sumitomo Mitsui Banking Corporation and the CAF development bank.

Occidental to sell Colombia onshore assets for $825 million

Debt-laden U.S. oil producer Occidental Petroleum Corp said on Thursday it has agreed to sell its onshore assets in Colombia to private equity firm Carlyle Group Inc CG.O for $825 million. The company said it is continuing to advance other asset sales as it tries to find cash to pay off debt amid a crude price crash. It has so far announced over $2 billion worth of divestitures this year. Occidental has operated in Colombia alongside majority state-owned Ecopetrol for more than 40 years. The two companies also have a joint venture in the Permian Basin in the United States.