Colombia: First Loan in Local Currency to Support Responsible Development

This budget support will assist the implementation of the “I am Barranquilla” 2020-2023 Development Plan of the city in northern Colombia. This plan, under the mandate of the mayor elected in January 2020, is based on the objectives of sustainable cities, adaptation to climate change, biodiversity and environmental protection, disaster risk management and social inclusion, especially for women.

It is an innovative operation. It is not only the first loan allocated by France via AFD to the City of Barranquilla, but also the first in local currency, Colombian pesos, in one of AFD Group’s countries of operation in Latin America.

Environmental restoration

This loan will support a number of activities:

• The restoration of a lagoon ecosystem
• The creation of an urban forest and an increase in green spaces
• A reduction in flooding through cleaning and creation of urban streams    
• An increase in waste recycling
• An improvement in air quality
• Better knowledge of and response to disaster risks 
• The inclusion of vulnerable people: addressing violence against women, training and access to employment for migrants and the Afro-Colombian community  
• Support for the peace and reconciliation processes in the post-conflict situation by combating the recruitment of young people by armed groups. 

This loan will also be combined with €625,000 of technical cooperation by AFD to develop neighborhoods bordering the Mallorquin lagoon and update the study on the risk of landslides in the city.

A great opportunity

“Helping Barranquilla implement its development plan is a great opportunity for AFD,” says Myriam Bouslama, AFD’s Director in Colombia. “This loan reflects our commitment and confidence in the city, and will be allocated to focus on our objective to support and accelerate transitions towards a fairer and more sustainable world.”

The Mayor of Barranquilla, Jaime Pumarejo says: “This operation confirms the confidence of the international community, especially France, in Barranquilla. With Agence Française de Développement, we’ve set ambitious objectives to reduce unemployment and fight for equality and a biodiversity that generates a quality of life and employment, while safeguarding the environment.”