Sumitomo Mitsui Banking Corporation and Financiera de Desarrollo Nacional S.A. Sign a Memorandum of Understanding(1/1)
July 29, 2014
Sumitomo Mitsui Banking Corporation
Sumitomo Mitsui Banking Corporation and Financiera de Desarrollo Nacional S.A. Sign
a Memorandum of Understanding
TOKYO, July 29, 2014---Sumitomo Mitsui Banking Corporation (SMBC, President:
Takeshi Kunibe) signed a memorandum of understanding (MOU) on business cooperation on July 29, 2014, with Financiera de Desarrollo Nacional S.A (FDN).
FDN, owned by the Colombian government through its Ministry of Finance, was created in 2011 as a development bank with the objective to manage and stimulate the financing and structuring of infrastructure projects in Colombia. FDNfs immediate mission is to support the U.S. Dollar 26 Billion fourth generation road concessions program (4G) through services such as financing and advisory. FDN also supports other energy and infrastructure projects in Colombia.
Under the MOU framework, SMBC and FDN may closely exchange information, expertise, and personnel in order to develop the countryfs finance structure and diversify finance sources not only in the 4G project, but also in various key infrastructure projects that will be carried out in the future. Through this MOU, SMBC will collaborate with FDN to offer the highest level of value-added products and services to our clients and the country.
Financiera de Desarrollo Nacional S.A. Profile, as of May 31, 2014:
- Founded in 2011
- Headquartered in Bogota D.C., Colombia
- President: Clemente del Valle
- Total Assets: Colombian Peso 500.5 Billion (equivalent to U.S. Dollar 263 Million)