Second Sustainable Development and Green Growth DPL

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The development objective of the Second Sustainable Development and Green Growth Development Policy Financing Project for Colombia is to support a set of policy and institutional measures for (i) green growth in transport, energy, environmental health and natural resources; and, (ii) improving environmental quality by reducing PM 2.5 in the air, strengthening regulations for sanitation, and increasing capacity to reuse and dispose solid waste. The Program is organized around two pillars, namely: (i) establish a set of policy and institutional measures for green growth in transport, energy, environmental health, and natural resources; (ii) improvement in the quality of life by reducing PM 2.5 in air; improving access to and the quality of drinking water and sanitation in rural areas; reducing water pollution; enhancing integrated solid waste management; and increasing capacity for solid waste reuse and disposal. The Government of Colombia (GoC) has made green growth an overarching strategy of its National Development Plan (NDP) 2014‐2018. The Plan’s five strategies are (i) Strategic Competitiveness and Infrastructure; (ii) Social Mobility; (iii) Field Transformation; (iv) Security, Justice and Democracy for Peace building; and (v) Good Governance are framed by an overarching green growth strategy that meets the Constitutional commitment for economically, socially and environmentally sustainable growth. This green growth strategy has three objectives: (a) to advance sustainable growth compatible with climate change; (b) to protect and ensure the sustainable use of natural capital and improve environmental quality; and (c) to strengthen resilience by reducing vulnerability to natural disasters and climate change. The World Bank has accompanied the GoC’s efforts to prepare and implement its green growth strategy. This DPF complements and strengthens Colombia’s planned accession to the OECD, its approval of the Paris Climate Agreement, and supports peace building to accelerate reforms that will improve quality of life and economic growth in newly opened regions and for all of Colombia’s citizens. The nation’s pledge in July 2017 to abide by the Paris Agreement to reduce greenhouse gas emissions and adapt to climate change provides another impetus towards green growth. The DPF Program's support to the GoC’s National Development Plan and green growth agenda reinforces the stability of the macroeconomic framework in the short and medium term. In addition, growth engines need to be managed sustainably and made more resilient to disasters and climate change to be able to support development.