Financial institutions Sumitomo Mitsui Banking Corporation (SMBC) and LarrainVial have announced a first close of a COP900bn (€200m) Colombian infrastructure and renewable energy debt fund.

The firms said the fund – which will provide Colombian peso-denominated loans – will help finance private and public projects ranging from transportation and telecom to water, wind farms, schools, and hospitals while meeting the investment needs of institutional investors in Colombia.

Luis Fernando Perdigon, head of Latin America corporate and project Finance at SMBC, said: “SMBC is committed to enabling the growth of infrastructure and renewable energy projects across Latin America.

“With the close of this fund, we are pleased to provide local market funding capacity for Colombian institutional investors that helps bring these projects to life.”

Maria Jose Ramirez, president of LarrainVial Colombia, said: “This fund demonstrates the commitment that the Colombian institutional investors have to development projects. We are proud to help support their investment in Colombian infrastructure in a diversified manner.”

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