MercoPress. South Atlantic News Agency

EIB opens Latam HQs in Colombia with 400 million euro offer in loans

“The Bank is open and ready to do business,” Hoyer announced.

The European Investment Bank (EIB) has opened its Latin American headquarters in Bogota following an agreement signed Monday between Colombian President Iván Duque and EIB CEO Werner Hoyer.

The EIB has also made available 400 million euros worth of loans to promote projects in areas affected by violence, it was announced.

“Today is a day that marks a milestone in the history of the relationship between Colombia and the European Union,” said Duque.

“It is a very important step of trust that began to materialise a few months ago,” he added.

The first contacts started in October 2018 in Belgium while Duque was on an official European tour.

That “the European Investment Bank has seen Colombia as the place to set foot [in the continent] ... is a great demonstration of trust and fills us with pride and pleasure,” Duque went on.

“Ladies and gentlemen, the Bank is open and ready to do business,” the German Hoyer told reporters from the Casa de Nariño presidential palace.

He also recalled that the EIB has been present in Latin America since 1993 and that as a result, the Bank has granted loans for about 8,400 million euros, for 120 projects in 14 countries.

Hoyer also underlined he was willing to support initiatives for up to 400 million euros for the “construction of peace in Colombia” and intends to “provide financing for projects that promote social inclusion and economic resilience” of Venezuelan migrants.