Banks to lend $11 bn to MSMEs to boost economic recovery

The national association of banks in Colombia (Asobancaria) launched yesterday 'Colombia Se Activa' economic recovery plan. It is a multi-bank alliance to provide financial services to micro, small and medium enterprises (MSMEs). Under this plan, Asobancaria expects disbursements passed to small and medium-sized companies and their portfolio to grow by 8% and 7.3% this year.

Central government secures $5.5 bn for major urban transport projects

The central government of Colombia has secured funds for the three most important railway projects for urban transport in Colombia. The Bogotá Metro, the Regiotram de Occidente in Bogotás metrepolitian area and the Avenida 80 light metro in Medellín. The central government will pay 70% of the total cost of each project while the local governments the other 30%.