Colombia

Clean transport and energy efficiency offer untapped, transformative potential to generate energy and cost savings in Colombia, where a boom in private motorized transport and decline in public transport ridership are increasing energy use and greenhouse gas emissions.

INVESTING IN COLOMBIA

To accelerate economic development while reducing greenhouse gas emissions in line with its national development strategies, Colombia’s CTF investment plan taps $150 million in CTF concessional financing to de-risk investment in low carbon urban transport, energy efficiency across various industries, and nascent renewable energy markets that move away from climate-dependent hydropower.

In particular, CTF financing is supporting the purchase of a pilot fleet of clean technology buses in Bogota, as well as other public transport upgrades in seven Colombian metropolitan areas. It is also helping to scale up access to finance for energy efficiency and clean production projects by encouraging financial institutions to develop lending programs for private companies.

FACTS ABOUT COLOMBIA

The transport sector accounts for 39% total energy demand, compared to a world average of 31%

2.8 million tons

of CO2 emissions equivalent are expected to be avoided annually through CTF investments in low carbon transportation

Projects in Colombia

NAME FUND FUNDING (USD MILLION) COFINANCING (USD MILLION) MDB
  Clean Energy Development Project FUNDClean Technology Fund COFINANCING (USD MILLION) 40 FUNDING (USD MILLION) MDBIBRD  
  Energy Efficiency Financing Program for the Services Sector FUNDClean Technology Fund COFINANCING (USD MILLION) 10.75 FUNDING (USD MILLION) 10 MDBIDB  
  Energy Efficiency Program in the San Andrés, Providencia and Santa Catalina Archipelago FUNDClean Technology Fund COFINANCING (USD MILLION) 10 FUNDING (USD MILLION) MDBIDB  
  Innovative Instruments to Foster Energy Efficiency in SMEs in Colombia FUNDClean Technology Fund COFINANCING (USD MILLION) 4 FUNDING (USD MILLION) 21 MDBIDB  
  Non-Conventional Renewable Energy FUNDClean Technology Fund COFINANCING (USD MILLION) 9.6 FUNDING (USD MILLION) MDBIDB  
  Renewable Energy Financing for Non-Interconnected Zones(NIZs) FUNDClean Technology Fund COFINANCING (USD MILLION) 10.24 FUNDING (USD MILLION) 19 MDBIDB  
  Strategic Public Transportation Systems (SETP) Program FUNDClean Technology Fund COFINANCING (USD MILLION) 20 FUNDING (USD MILLION) 300 MDBIDB  
  Sustainable Energy Finance Program FUNDClean Technology Fund COFINANCING (USD MILLION) 5.93 FUNDING (USD MILLION) 35 MDBIDB  
  Sustainable Energy Finance Program FUNDClean Technology Fund COFINANCING (USD MILLION) 6.47 FUNDING (USD MILLION) 103 MDBIFC  
  Technological Transformation Program for Bogota’s Integrated Public Transport System FUNDClean Technology Fund COFINANCING (USD MILLION) 40 FUNDING (USD MILLION) 40 MDBIDB  
  Utility Scale RE-geothermal FUNDClean Technology Fund COFINANCING (USD MILLION) 9.53 FUNDING (USD MILLION) MDBIDB  

TRANSFORMING VISION INTO ACTION

The CIF programmatic approach to investment planning and implementation brings strategic value to CIF recipient countries. Working through a transparent, country-led process, the CIF fosters trust and collaboration among government ministries, civil society, indigenous peoples, private sector, and the MDBs that implement CIF funding . Together they translate Nationally Determined Contributions and other national development and climate strategies into an actionable CIF investment plan.

Knowledge Center

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  • Jun 13, 2018
FIP Monitoring and Reporting Toolkit

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  • Jun 08, 2018
PPCR Fact Sheet