The Development Bank of Latin America (CAF) approved two loans, each for 300 million dollars, for Columbia.
(See: Consumer Confidence Index reached -17.5% in February).
One of the loans falls under the National Development Plan 2018-2022 Pact for Colombia, pact for equity, and will be used to promote cultural and creative industries and “increase its contribution to the generation of wealth, employment, economic growth and improvement of the quality of life of the communities of creators and the territories”, reported the CAF.
It will also be used to promotethe generation of effective information for the development of creative industries; strengthen the institutional environment for its consolidation and public-private articulation, enhance state supply, promote creative agendas for municipalities, cities and regions, and the development of ADNs, promote their integration with international markets and other productive sectors, generate conditions enablers for the inclusion of human capital and promote intellectual property as a support for creative inspiration”.
(See: The ‘top’ of the most responsible companies in Colombia).
The second loan is a joint financing with other multilateral banks and contributes to promoting the efforts of the Colombian Government in the development of policies that improve the management of biodiversity and climate action.
“The funds will support the planning, management and monitoring of climate action, and will generate more economic opportunities from the use of natural capital and circular economy models”, said the entity.
(See: Commerce and other sectors that marked the GDP in 2021).
In addition to these total US$600 million, CAF approved external financing with sovereign guarantee for up to 1,200 million dollars, which “becomes a financing framework so that the territorial entities, their decentralized entities and the companies that provide public services of public entities of a subnational nature in the country can access financing resources with a sovereign guarantee.”
The objective of the funds is to reduce the infrastructure gaps and contribute to the sustained economic development of the regions, through the financing of their investment plans.
(See: Colombia’s economic growth, year by year).
In the last five years (2016-2021), the CAF approved for Colombia 10,876 million dollars, which represents an average of 1,813 million per year, equivalent to 13.8% of the total approved by the organization in that period for the member countries.
BRIEFCASE
