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Ecopetrol To Get $1B From Ex-Im Bank

Export-Import Bank of the United States has granted about $1 billion to finance Ecopetrol’s purchase of U.S. goods and services.

Export-Import Bank of the United States (Ex-Im Bank) has granted about $1 billion to finance Ecopetrol’s purchase of U.S. goods and services. Ex-Im Bank will award a $420 million medium-term loan guarantee facility and a $459.8 million long-term loan guarantee facility to the Colombian company.

The long-term loan guarantee facility will be used to modernize Colombia’s Berrancabermeja refinery, which has about $4 billion of estimated total project costs. The medium-term loan guarantee facility will be used for company-wide capital investments.

Click here for the release from PR Newswire.

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