A $250m financing package has been announced for Uruguay’s Central Railroad Line Project, which aims to improve connectivity between the port capital of Montevideo and the interior of the country as well as encouraging foreign investment.
The money is being provided by the Inter-American Investment Corporation (IDB Invest), a subsidiary of the Inter-American Development Bank.
The project will be IDB Invest’s largest ever B-bond scheme. The proceeds will be used to refinance existing debt and improve the project’s overall financing terms and conditions.
Gema Sacristan, IDB Invest’s chief investment officer, said: “Investing in large-scale, sustainable infrastructure projects can have a transformative impact for the future of our region.
“At IDB Invest, we continue to innovate to mobilise financing and attract new investors to Latin America and the Caribbean.”