• The project will generate more than 100,000 jobs during the construction of the two highways, 5G Troncal del Magdalena 1 and Troncal del Magdalena 2.

IDB Invest will provide financing for up to 468,000 million Colombian pesos for the concessions of the 5G highways Autopista Magdalena Medio (Troncal del Magdalena 1) and Autopista del Rio Grande (Troncal del Magdalena 2), owned by KMA Construcciones y Grupo Ortiz.

The construction of both highways will connect the main cities in the interior of Colombia with Caribbean ports, covering a total distance of 532 kilometers. This project has the potential to generate up to 100,000 direct and indirect jobs during its construction phase.

Additionally, these new roads will reduce travel time by approximately two hours along the corridor, with an average speed of 100 kilometers per hour, which will boost the country's competitiveness.

The Magdalena Medio highway, with an investment of 4.4 billion Colombian pesos, will extend from Puerto Salgar to Barrancabermeja, passing through the departments of Cundinamarca, Boyacá and Santander.

The Río Grande highway, with an investment of 4 billion Colombian pesos, will extend 272 kilometers between Barrancabermeja and Curumaní, crossing the departments of Santander and Cesar.

Together with the International Finance Corporation (IFC) and the Development Bank of Latin America and the Caribbean (CAF), IDB Invest will provide advisory services to identify climate risks, and an economic analysis of the most relevant adaptation and resilience measures, with an emphasis on nature-based solutions.

The financial closing reflects the support of local and international banks for the country's infrastructure. Banco de Crédito del Perú (BCP) and Credicorp Capital acted as structurers of the financing, and eight entities participated through a Club Deal comprised of IDB Invest, Bancolombia, IFC, CAF, JP Morgan, Sumitomo Mitsui Banking Corporation (SMBC), Mitsubishi UFJ Financial Group (MUFG), and Financiera de Desarrollo Nacional (FDN).

This project shows IDB Invest's commitment to developing infrastructure projects in the region to promote connectivity in the countries and increase regional competitiveness.

The project is also expected to contribute to the UN Sustainable Development Goals (SDGs): Decent Work and Economic Growth (SDG 8), Industry, Innovation and Infrastructure (SDG 9) and Partnerships for the Goals (SDG 17).

About IDB Invest

IDB Invest, a member of the Inter-American Development Bank Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in assets under management and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries.

About KMA Construcciones

KMA Construcciones is a leading company in the Colombian infrastructure sector with more than 20 years of experience in the world of construction, serving both the private and public sectors. It executes concessions, civil engineering, foundations and piling, airports, real estate and aqueduct projects, always seeking the highest standards of quality, operational efficiency and generation of competitiveness. In road concessions, it currently executes, builds and operates the Transversal del Sisga, Conexión Norte, the Magdalena Trunk 1, the Magdalena Trunk 2, Autopistas del Caribe and Córdoba-Sucre, fulfilling the purpose of building the future.

About Grupo Ortiz

Grupo Ortiz is a Spanish Business Group with more than 60 years of experience in the execution of railway, road, integral water cycle -WWTP, DWTP, hospital infrastructure and rehabilitation of large buildings. It is a global benchmark in the execution of photovoltaic energy projects under the EPC model anywhere in the world. Grupo Ortiz is also a recognized player in the international concessions market and is established in Spain, Colombia, the United States, Mexico, Panama, Peru and Japan.