The general objective of this Technical Cooperation (TC) is to create and disseminate knowledge on the establishment of a comprehensive Guarantee Insurance System (GIS) in Colombia to provide better financial access for Micro, Small and Medium Enterprises (MSMEs). The TC aims to strengthen the institutional and operational capacity of Colombian public financial institutions through knowledge creation and dissemination, which will act as key knowledge beneficiaries and implementing partners of the GIS framework. In particular, this TC has the following specific objectives: (i) To model the Korean guarantee insurance system for its compatibility with Colombia, analyzing and providing recommendations on a comprehensive legal, regulatory, and institutional framework to support an efficient risk-sharing mechanism among public financial institutions; (ii) To generate practical knowledge, promote public-private dialogue, and facilitate the development of guarantee insurance innovative solutions; and (iii) To build capacities and foster knowledge exchange through strengthening the technical, operational, and dialogue capabilities of policy makers, regulators, and financial professionals in Colombia , with lessons disseminated across LAC.
Project Detail
Country
Colombia
Project Number
CO-T1822
Approval Date
August 6, 2026
Project Status
Implementation
Project Type
Technical Cooperation
Sector
FINANCIAL MARKETS
Subsector
BANKING MARKET DEVELOPMENT
Lending Instrument
-
Lending Instrument Code
-
Modality
-
Facility Type
-
Environmental and Social Impact Category (ESIC)
-
Total Cost
USD 800,000.00
Country Counterpart Financing
-
Original Amount Approved
USD 400,000.00