Colombia Programmatic Financial Sector Loan II

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The Second Programmatic Financial Sector Adjustment Loan Project for Colombia aims to contribute to a well capitalized, well regulated, supervised stable, and efficient financial system that effectively intermediates savings and provides credit, capital, and other financial services and products to Colombian investors, consumers, and homeowners. It also aims to facilitate greater domestic and foreign investment, reduce the cost of financing, and contribute to strengthened competitiveness, higher productivity and eventual job creation. The loan will support policy actions under the first phase of the program and implement a new legal and regulatory framework for the modernization of the securities market and the upgrading of risk management norms in the mutual funds, pension, insurance and trust industries.