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These resources, provided by AFD (Agence Française de Développement), will enable funding for, among other aspects, climate change mitigation and adaptation, economic and social development, strengthening diversity, equity, and inclusion practices, and support for small and medium-sized enterprises (SMEs).
Through this partnership, Bancóldex reaffirms its commitment to fulfilling the Paris Agreement and the 2030 Agenda, establishing itself as a benchmark in sustainable business project financing in Colombia.
Cali, 29 October 2024. As part of COP 16 taking place in Cali, Colombia, Bancóldex announced access to a transformational US100 million credit line from AFD. These funding resources will enable Colombia's business development bank to continue financing the growth and competitiveness of Colombian SMEs, with a particular focus on sustainability, the environment, and inclusion.
Moreover, this alliance will be essential to strengthen Bancóldex’s capabilities in climate, biodiversity, diversity, equity, and inclusion, drawing on AFD’s experience through technical assistance. This will allow the bank to consolidate its position as an institution addressing the sustainable development challenges of the Colombian business sector.
In this regard, Bancóldex, which is also the co-chair of the International Development Finance Club (IDFC), will strengthen its Sustainability Strategy and initiatives such as its Diversity, Equity, and Inclusion Policy, and its focus on climate matters within governance, strategy, and risk management. This will further align its operations with the Paris Agreement, from a product portfolio perspective—both financial and non-financial—and incorporate biodiversity as a strategic priority contributing to specific goals of the Global Biodiversity Framework.
“We are proud to collaborate with Bancóldex on this transformational initiative that drives sustainable and resilient development in Colombia. This agreement not only strengthens ties between France and Colombia but also reflects our shared commitment to climate action, biodiversity, and social and gender equity. Through this credit line, we trust that Bancóldex will enhance its capacity to promote projects that address global and local challenges of sustainable development and inclusion, fostering a lasting impact on the Colombian business ecosystem,” said Marie-Hélène Loison, Deputy Chief Executive Officer of the Agence Française de Développement.
“Access to this line allows us to continue building our path as a benchmark in financing more sustainable and inclusive business projects that meet global needs for climate change adaptation. I would like to emphasize that this new step results from a collaborative effort with a shared purpose between Bancóldex and AFD, which has yielded significant results,” highlighted Javier Díaz Fajardo, President of Bancóldex.
It is worth noting that Bancóldex has incorporated tools into its portfolio, including special credit lines for financing green projects totaling over COP 355 billion, benefiting more than 3,200 companies over the last five years.
Additionally, in 2024, Bancóldex introduced special credit lines and sub-quotas to boost the participation of women in the business sector, benefiting over 4,700 female entrepreneurs with favorable loans exceeding COP 94 billion.