IIC approves a loan of up to US$10 million to Airplan S.A.


Financing will expand the infrastructure sector in northwestern Colombia

Washington, D.C. - On November 2, 2010, the Inter-American Investment Corporation (IIC) approved a loan of up to US$10 million to Sociedad Operadora de Aeropuertos Centro Norte, Airplan S.A. (Airplan) for the administration, operation, commercial development, adaptation, modernization, and maintenance of six airports.

According to Olga Lucía De Narváez, IIC Investment Officer in charge of the operation, "With this operation, the IIC will be contributing to the development of the private sector, boosting the expansion of Colombia's infrastructure sector, while promoting job creation, foreign exchange generation, new business opportunities, and increased development and diversification of economic activity."

About Airplan

Airplan is a company established for the sole purpose of performing a concession agreement in Colombia intended to operate, develop commercially, modernize, and maintain the following airports: Olaya Herrera in Medellín, José María Córdova in Rionegro, El Caraño in Quibdó, Los Garzones in Montería, Antonio Roldán in Carepa, and Las Brujas in Corozal.

This project is part of an airport privatization plan initiated by the Colombian government that has already turned twelve airports over under concession, in addition to the six mentioned above. For more information about Airplan, visit www.airplan.aero

About the IIC

The IIC is a multilateral financial institution that is a member of the Inter-American Development Bank (IDB) Group. The IIC’s mission is to promote the economic development of its regional member countries by encouraging the establishment, expansion, and modernization of private enterprises, particularly those that are small and medium in size. It does so by providing financing (in the form of equity investments, loans, guarantees, and other instruments) and advisory services to private enterprises in Latin America and the Caribbean. In 2009, the IIC reached US$1.4 billion in assets and approved 40 operations channeling US$299.8 million to SMEs in the region. For more information on the IIC’s activities, please visit www.iic.int

Contact: Olga Lucía De Narváez

Telephone: + (571) 325-7052

Email: olgadena@iadb.org