Bogotá, Colombia, May 26: To support job creation, advance sustainable infrastructure, expand access to finance for small and medium enterprises (SMEs), and strengthen Colombia’s transition to a low-carbon economy, the International Finance Corporation (IFC), a member of the World Bank Group, announced a financing package of up to US$150 million for Banco de Bogotá.
The investment aims to mobilize private capital into key sectors such as construction, transport, energy, and manufacturing—critical drivers of productivity, competitiveness, and job creation in the country. These labor-intensive sectors face structural constraints linked to infrastructure gaps and limited access to financing.
The investment will focus on three key areas. Approximately 20 percent will support transition finance, helping companies advance technological upgrades and improve operational efficiency. Around 30 percent will be channeled to small and medium enterprises (SMEs) to support their growth and expansion. The remaining 50 percent will be allocated to sustainable construction, exclusively financing projects certified under EDGE Advanced or comparable international standards such as LEED Gold or Platinum, with a strong emphasis on reducing water and energy footprints in Colombia’s construction sector.
In addition to financing, IFC provided technical assistance to Banco de Bogotá to develop the first transition finance frameworks in Latin America, strengthening the financial system’s capacity to channel resources toward investments aligned with decarbonization goals.
“This transaction demonstrates our ability to structure innovative financial solutions aligned with international standards, mobilizing capital toward projects that enhance business competitiveness, accelerate the energy transition, and deliver tangible economic and environmental impact for Colombia. The mobilization of these US$150 million will enable more companies to access financing to modernize their processes, reduce energy and water consumption, adopt more efficient technologies, and strengthen their competitiveness in an increasingly demanding environment,” said Juan Carlos Echeverry, President of Banco de Bogotá.
“This project reinforces our commitment to supporting sustainable economic growth in Colombia by expanding access to long-term financing for sectors that are critical for job creation and competitiveness,” said Elizabeth Martínez Marcano, IFC Division Director for Colombia, the Andean Region, and the Caribbean. “At the same time, we are helping mobilize capital toward investments that drive climate transition and strengthen the country’s resilience.”
The investment is supported by a performance‑based incentive under the IFC-UK Market Accelerator for Green Construction (MAGC), a blended finance program supported by the United Kingdom, acting through the Department for Energy Security and Net Zero. MAGC helps scale green construction across emerging markets by incentivizing financial intermediaries to offer or expand green construction lending products.
