The Inter-American Development Bank (IDB) approved a $600 million program to support Colombia's integration into global and regional value chains and boost its economic growth.
The program is the second operation in a programmatic series launched in 2022, supporting a set of reforms aimed at improving the business climate, reducing trade costs, and boosting the productivity of export-focused micro, small and medium-sized enterprises (MSMEs) to attract productive and sustainable investment.
The policies promoted by the second program will benefit more than 43,000 exporting companies and over 210,000 MSMEs, including women-led firms that have the potential to become exporters.
Of the total financing amount, $500 million comes from the IDB’s ordinary capital, and $100 million from the Korea Infrastructure Development Co-Financing Facility for Latin America and the Caribbean (KIF).
The IDB loan has a 19-year amortization term, a 6.5-year grace period, and an interest rate based on SOFR. The KIF loan has a 15-year amortization term, a 3-year grace period, and an annual interest rate of 2.5%.
About the IDB
The Inter-American Development Bank (IDB) is devoted to improving lives across Latin America and the Caribbean. Founded in 1959, the IDB works with the region’s public sector to design and enable impactful, innovative solutions for sustainable and inclusive development. Leveraging financing, technical expertise and knowledge, it promotes growth and well-being in 26 countries. Visit our website
https://www.iadb.org/en.
Funez Trejo,Angela Maria
