Colombia Earthquake: CAF and Banco de Occidente Launch Rescue Credit for Damaged Companies
COLOMBIA · RECONSTRUCTION Key Facts —What happened: CAF and Banco de Occidente agreed a credit package to rescue companies hit by Colombia’s 10 August earthquake. —How big: The headline figure is US$150 million, combining a new US$50 million earmark and a US$100 million credit line. —The catch: This is repayable bank credit, not a grant, […] The post Colombia Earthquake: CAF and Banco de…
CAF and Banco de Occidente have agreed on a credit package worth US$150 million to aid companies impacted by the 10 August earthquake in Colombia. The package includes a new US$50 million earmark and a US$100 million credit line. The money is intended to help firms restore their operations, finance working capital, replace or modernize damaged machinery, and rebuild broken supply chains.
Repayment terms extend up to one year. The deal targets companies of all sizes in the western departments affected by the 7.4-magnitude earthquake, which claimed 331 lives. Banco de Occidente will distribute the funds through its branch network in the affected regions. The initiative comes as Colombian President Abelardo de la Espriella urged banks to lower interest rates to help families rebuild or purchase homes.
Written by urgent.news from The Rio Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
