World Bank approves $750 million climate change loan to Colombia

FILE PHOTO: Pollutant foam generated by a river full of waste is blown by the wind next to houses, in Mosquera, Colombia April 27, 2022. REUTERS/Luisa Gonzalez/File Photo

Source: X06728

By Nelson Bocanegra

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 Dec. 2022 loan of $1 billion.

This article was produced by Reuters news agency. It has not been edited by Global South World.

By Reuters