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.
Source: World Bank
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.
The transport sector accounts for 39% total energy demand, compared to a world average of 31%
|NAME||FUND||FUNDING (USD MILLION)||COFINANCING (USD MILLION)||MDB|
|Clean Energy Development Project||FUNDClean Technology Fund||COFINANCING (USD MILLION) 40.00||FUNDING (USD MILLION) 1059.80||MDBIBRD|
|Energy Efficiency Financing Program for the Services Sector||FUNDClean Technology Fund||COFINANCING (USD MILLION) 10.75||FUNDING (USD MILLION) 10.00||MDBIADB|
|Energy Efficiency Program in the San Andrés, Providencia and Santa Catalina Archipelago||FUNDClean Technology Fund||COFINANCING (USD MILLION) 10.00||FUNDING (USD MILLION) 93.00||MDBIADB|
|Innovative Instruments to Foster Energy Efficiency in SMEs in Colombia||FUNDClean Technology Fund||COFINANCING (USD MILLION) 4.00||FUNDING (USD MILLION) 21.35||MDBIADB|
|Non-Conventional Renewable Energy||FUNDClean Technology Fund||COFINANCING (USD MILLION) 9.60||FUNDING (USD MILLION) 51.60||MDBIADB|
|Renewable Energy Financing for Non-Interconnected Zones(NIZs)||FUNDClean Technology Fund||COFINANCING (USD MILLION) 10.24||FUNDING (USD MILLION) 18.70||MDBIADB|
|Strategic Public Transportation Systems (SETP) Program||FUNDClean Technology Fund||COFINANCING (USD MILLION) 20.00||FUNDING (USD MILLION) 300.00||MDBIADB|
|Sustainable Energy Finance Program||FUNDClean Technology Fund||COFINANCING (USD MILLION) 5.93||FUNDING (USD MILLION) 35.19||MDBIADB|
|Sustainable Energy Finance Program||FUNDClean Technology Fund||COFINANCING (USD MILLION) 6.47||FUNDING (USD MILLION)||MDBIFC|
|Technological Transformation Program for Bogota’s Integrated Public Transport System||FUNDClean Technology Fund||COFINANCING (USD MILLION) 40.00||FUNDING (USD MILLION) 40.00||MDBIADB|
|Utility Scale RE-geothermal||FUNDClean Technology Fund||COFINANCING (USD MILLION) 9.53||FUNDING (USD MILLION) 190.00||MDBIADB|
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.