Port agency in Colombia gets a $3 million loan

The Inter-American Investment Corp. has approved a loan of up to $3 million to port operator Grupo Portuario S.A. to expand the wharf at the Buenaventura Marine Terminal on Colombia’s Pacific coast, boosting its operating capacity by 35 percent.

Grupo Portuario will use the long-term loan in U.S. dollars to dredge the approach channel and expand the wharf, creating a new berth. The wharf already handles 11 percent of Buenaventura’s cargo volume and is used for loading, offloading, and moving minerals, bulk freight, loose cargo, vehicles, and containers.

“Expanding the port’s infrastructure will strengthen economic ties with the export sector, given the Port of Buenaventura’s proximity to Cali, Bogotá, and Medellín, the country’s major cities,” noted Olga Lucía De Narváez, investment officer in charge of the operation.

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