World Bank to loan Colombia $500 mm to support infrastructure needs

The World Bank has approved a loan of $500 million to Colombia to support the Andean country’s basic infrastructure needs and protect vulnerable groups during the coronavirus pandemic, it said on Wednesday. The loan will also go towards developing resilient and sustainable infrastructure to support Colombia’s economic recovery and to promote the use of renewable energy sources and reducing carbon emissions. During the first six months of the year, the World Bank lent Colombia $1.25 billion and provided the country with $250 million in contingency financing to help its coronavirus response.

Source: Reuters