World Bank loan for Colombia's energy transition

Country / jurisdiction: Colombia · Year: 2022 · Status: In force · Level: National · Type: Voluntary

The World Bank Board approved USD 1 billion in financing for Colombia to help the country accelerating its energy transition, promoting sustainable land use, and enhance climate resilience and adaptation. The loan has a 20-year term with a three-and-a-half-year grace period. The aid will support a reform program to assist Colombia’s moves to lower its carbon emissions, particularly in the energy and transport sectors. It aims to increase non-conventional renewable energy production output and develop a green hydrogen industry in the country.

Official source: https://www.worldbank.org/en/news/press-release/2022/12/20/el-banco-mundial-apoya-la-accion-climatica-en-colombia-con-un-prestamo-de-us-1-000-millones#:~:text=Washington%2c%20D.C.%2c%20December%2020%2c%2cstrengthening%20climate%20resilience%20and%20adaptation.