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World Bank approves $750 million climate change loan to Colombia

World Bank approves $750 million climate change loan to Colombia
2 Apr 2024 01:37

BOGOTA (REUTERS)

The World Bank has approved a loan of $750 million to Colombia, to help the country become more resilient in the face of climate change by buoying up renewable energy efforts and reducing carbon emissions, the bank said on Monday.

The loan looks to boost development of solar and offshore wind energy and green hydrogen, as well as bolster electric urban transport and multimodal transport, the bank said in a statement.

"It is important for Colombia to take up the transition toward a more resilient economy, with low carbon emissions and a focus on sustainable management of natural resources," the statement said.

The loan is the bank's second to the South American country focused on climate change, after a December 2022 loan of $1 billion.

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