CAF, China Development Bank Team for Colombia Loan

Colombian cement company Cementos Argos will receive a $150m loan from CAF and the China Development bank, the multilateral says, to finance a new cement production line for Argo’s facility in Cartagena. Each of the financial institutions will provide $75m, CAF says. Price and tenor of the loan were not disclosed, a spokeswoman from CAF says, citing confidentiality issues. The operation is part of a strategic agreement signed between CAF and the Chinese institution to co-finance development projects in LatAm, the multilateral says.