Women in Construction: Jhoana Montalbán, deputy manager of infrastructure financing department, Cofide

“Infrastructure is key to economic growth, social equity and sustainable development,” says Jhoana Montalbán, deputy manager of the infrastructure financing department at Cofide, Peru’s development bank.

Based in Lima, Montalbán has spent her entire career working in finance. “I lead a team of five professionals, securing financing for large-scale infrastructure projects such as airports, ports, highways, hydroelectric plants, schools, hospitals, and water and sanitation systems,” she explains. “We actively promote public-private partnerships (PPPs) to drive sustainable development.” With a portfolio of approximately US$350m (£278m), her team is responsible for structuring and managing projects that improve the quality of life for Peruvians.

Her passion for finance began early. “I studied economics at San Marcos University in Peru and, upon completing my degree, I wanted to specialise further in this field,” she says. A pivotal decision in her career was choosing an extension course at Cofide over an internship at a commercial bank. “After three intensive months, I secured a position at Cofide in the business area,” she recalls. Over the years, she advanced within the organisation and found her calling in project finance. “It is a challenging yet fascinating field – especially in a development bank, where our mission goes beyond numbers to create lasting social impact.”

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Montalbán acknowledges that Peru’s infrastructure landscape is still developing. “There are significant regional disparities. [There is] more developed infrastructure in urban areas like Lima, while rural and remote regions remain underserved,” she notes. “Financing infrastructure projects helps bridge this gap, by providing essential services such as roads, electricity and telecommunications. This in turn fosters the integration of rural areas into national and global economies, promoting greater social equity.” 

Among the projects she has worked on, one stands out: the financing of Ergon Perú SAC, which enabled the installation of 150,000 off-grid photovoltaic systems in remote areas. “Being part of an initiative that directly improves lives by delivering reliable, clean energy was deeply fulfilling,” she says. “Additionally, [it] aligned with Peru’s sustainability goals and energy transition efforts.” Overcoming logistical and technical challenges reinforced her ability to manage complex, multi-stakeholder projects. “The long-term impact on local communities is what makes this project truly special,” she notes.

Montalbán believes more needs to be done to attract women to project finance. “Governments actively promote education across the country, particularly in remote areas where the gap remains significant. Addressing this is essential,” she says. “The industry should engage with younger generations by supporting educational programmes in science, technology, engineering and mathematics, as well as financial literacy initiatives targeted at women.”

Coming from a remote area myself, I understand first hand the importance of providing these communities with the resources they need to thrive 

Jhoana Montalbán, deputy manager of infrastructure financing department, Cofide

Creating an inclusive work environment is key. “The industry must actively provide opportunities for career growth, address barriers that hinder women’s advancement, and foster mentorship programmes,” she argues. “Promoting work-life balance, tackling unconscious bias, and celebrating the achievements of women will help build a more diverse and dynamic workforce – one that drives both innovation and progress.”

When asked, Montalbán doesn’t shy away from the label of being a role model for aspiring women leaders. “While everyone’s journey is unique, my experiences can serve as inspiration for other women – especially young professionals who may not see many female leaders in these sectors,” she says. “Being a role model is about demonstrating that, with dedication, resilience and authenticity, women can break barriers and lead with impact.” 

In terms of career highlights, Montalbán names as her biggest achievement her professional trajectory itself. “Every milestone, every challenge I’ve overcome, and every leadership role I’ve taken on has shaped my success,” she reflects. “My career is more than a job – it’s a testament to my passion, resilience and commitment to making a lasting difference in project finance.” Looking ahead, she is driven by a desire to create more opportunities for people in remote areas. “Coming from a remote area myself, I understand first hand the importance of providing these communities with the resources they need to thrive,” she adds.

Her advice to women considering a career in project finance is clear: “Embrace your technical expertise and leadership potential. The learning process never stops in this industry, and perseverance is key to success,” she says. “Seek mentorship, build a strong network and take initiative. Your unique perspective is an asset – by combining knowledge with strong leadership, you can break barriers and inspire others to follow in your footsteps.”