Reform Programme for Sustainable and Resilient Development, Phase II

completed

As part of the FC program Reform Program for Sustainable and Resilient Development, the Republic of Colombia is to be supported in its reform efforts to create social, environmentally friendly and resilient economic growth and to use natural resources sustainably. The project consists of two phases that build on each other in terms of content. They are designed as budget financing (policy-based lending, PBL) and are intended to support the Colombian government in implementing policy reforms in the areas of electric mobility, use of non-conventional renewable energy sources and access to green energy sources. The policy actions are structured in a package of measures (so-called policy matrix) and followed up via periodic missions. The disbursement of the loan funds is linked to the achievement of the policy actions set out in the policy matrix, which thus represent the disbursement conditions to be met (triggers). The achievement of the target is checked by KfW before the respective disbursement is made. The funds are paid into the Colombian national budget. The target group of the FC project is, in the broader sense, the population of Colombia. It benefits from the preservation of natural resources, including cleaner air and fewer emissions through the use of renewable electricity sources and alternative fuels, and thus also an improved and cleaner transport system and service. The project is being implemented as parallel financing with the Agence Française de Développement (AFD), the Korean Export-Import Bank (KEXIM), the Corporación Andina de Fomento (CAF) and the Central American Development Bank (BCIE), under the leadership of the Inter-American Development Bank (IDB).