European Investment Bank Opens Headquarters in Latin America

President Ivan Duque and the president of the European Investment Bank (EIB) Werner Hoyer signed the agreement confirming Colombia as the host country for the regional representation of the financial institution for Latin America first of its kind in the region. The first approaches took place since October 2018 in Belgium during the meeting that took place with the president of the EIB, Werner Hoyer, in the framework of his work visit to Europe.

The European Investment Bank has made available to Colombia resources for 400 million euros (1.44 billion pesos), in soft loans to promote projects in areas affected by violence. “Today is a day that marks a milestone in the history of the relationship between Colombia and the European Union. It is a very important step of trust that began to materialize a few months ago,” said the president of the Colombians during the signing of the agreement. (Context: The European Investment Bank arrives in Colombia and will support peace ).

Duque recalled that Bogotá is the first investment bank office to cover Latin America. “It was born with the idea of ​​having financial products with better terms and rates, which have a strategic impact,” said the president of Colombians.

For his part, Hoyer said that “for our bank, it is a great opportunity to highlight the relationship between the EU and Colombia, built after decades of positive interactions. We have been operating in Colombia since 1993 and have financed 8,400 million euros in 120 countries .”

He reiterated that Bogotá is the only regional representation in Latin America. “We are centralized and if there is a suitable place we arrive in Colombia,” he recalled that last year 15 operations were set up in the country. ” We are willing to work,” he said.

Duque stressed that the bank wants to finance the Bogotá metro with 400 million euros, “which is about to start thanks to the leadership of Minister Alberto Carrasquilla, (and) from the city administration.”

The president thanked the EU’s announcement to accompany the country with resources to address the serious migration crisis that requires structural solutions.

The president of the European Investment Bank announced that the institution supports the Peace Agreement. “We have offered up to 400 million euros to strengthen companies in the most affected areas of the armed conflict,” he said.

Hoyer said that the problem of migration in Europe has been studied in-depth and that is why “we are so pleased to share our experience with Latin America in its challenge with Venezuela. We are committed to strengthening economic resilience in Colombia.”

“The European Investment Bank (EIB) chooses Bogotá as the headquarters of its regional representation as a sign of confidence in the country and throughout the region . With this new representation we want to strengthen our activity in Latin America, identifying investment projects that allow promoting sustainable economic growth in the region, ”Arnd Beck, head of the Latin American Office of this entity.

Patricia Llombart, ambassador of the European Union in the country, recalled that “the Bank has made available to the Government 400 million euros (1.44 billion pesos) in soft loans for projects in post-conflict areas, especially in municipalities of development programs with a territorial approach (PDET) identified by the Government ”. (Of interest: A financial impulse to the implementation of peace ).

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