The development bank of Latin America, CAF, authorized two loans to Colombia for a total of US$600 million to encourage the impact of the orange economy and implement measures that serve to improve climate action, the institution said on Tuesday.
In addition to these two credits, the multilateral organization approved external financing with a sovereign guarantee of up to US$1.2 billion to finance investment initiatives that contribute to the fulfillment of the Sustainable Development Goals and the goals defined in the Nationally Determined Contribution (NDC). acronym in English) of Colombia.
The “loans represent recognition of the leadership of the Colombian government on issues of high socioeconomic impact such as climate change, the promotion of creative and cultural industries and the reduction of poverty throughout the country,” said Sergio Díaz-Granados, president CAF executive in the statement.
The first credit, of US$300, will support the generation of effective information for the development of creative industries, strengthen the institutional environment for their consolidation and public-private articulation, in addition to promoting their integration with international markets and other productive sectors, among other purposes.
The second loan, also for US$300 million, will be aimed at promoting the efforts of the Colombian government in the development of policies that improve the management of biodiversity and climate action, the entity added.
In the last five years, CAF has approved operations for US$10,876 million in Colombia.
–
