A new loan was approved for Colombia. Is about $ 300 million that he world Bank will deliver to the country to respond to eventual risks and natural disasters.
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As explained a few days ago by the Minister of Finance, José Manuel Restrepo, the loan is part of the so-called Cat DDO, which means that it is subscribed with time and is disbursed immediately when a natural catastrophe or an epidemiological event is suffered “high impact“.
The latter means that, if necessary, the money can be used on issues related to covid-19.
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The loan will be handled by the Ministry of Finance and the National Planning Department (DNP). A part will be used to strengthen the creation of risk management and anticipation plans.
The World Bank recognized Colombia as a country “leader in Latin America in risk management, but that must be strengthened in relation to climate change and public health“.
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This is the third loan of this style that the country receives. The first was signed in 2008 for 150 million dollars and the second, for 250 million dollars in 2012.
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BRIEFCASE
