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The Inter-American Development Bank (IADB) has signed more than US$450mn in loans and grants to support projects for hydroelectricity, mass transit, the national census, social equity and business growth in Colombia.

Two loans for US$200mn each were signed for the Porce III hydroelectric power project, located 147km northeast of Medell­n, and for the modernising of the mass transit system in Cali.

A US$48mn loan was signed to support the 2005 general census.

Two grants were also signed, US$1.42mn from the Multilateral Investment Fund (MIF) to help the private sector develop franchising and US$600,000 from the IADB to support the advance of social equity in the department of Antioquia. The MIF is an autonomous fund administered by the IADB.