Colombia Port to Be Upgraded

IFC, which specializes in investing in developing countries, is providing $15 million in financing to one of Colombia's port terminals, in an effort to boost the Colombian economy, employment and port capacity. IFC will operate the port for 20 years and over the next year, will redevelop the multipurpose Marítimo Muelles El Bosque Sociedad Anónima port in the Bay of Cartagena, on Colombia's Atlantic coast, said to be Cartagena's second-largest terminal and the fifth-largest port in Colombia. The money will be put towards the purchase of additional equipment, extending the container yard and increasing storage space, as well as expanding the terminal's operations, enhancing it's efficiency and reducing costs for importers and exporters.

Suggested Articles:

From Thailand to Nepal, tourists across Asia are finding their vacations turning to nightmares as airlines cancel flights and countries close borders.

Hollland America says 14 percent of Zaandam's crew and 4 percent of its guests have flu-like symptoms. It's now moving healthy guests to Rotterdam.

The CARES Act, passed by the Senate, would pour $2 trillion into the U.S. Economy. Read more.