Inter-American Development Bank Grants Colombia USD 450M Loan for Financial System Reforms

The Inter-American Development Bank (IDB) approved the second phase of a USD 450M loan to Colombia for financial system reforms designed to increase the country’s economic growth.

According to the IDB, the proposed reforms will aim to solidify macroeconomic stability, boost development, encourage public/private partnership financing, strengthen regulation of the financial system, promote financial inclusion, and heighten the country’s ability to monitor progress in these areas. The loan has a 20-year term with a 5.5-year grace period as well as a LIBOR-based interest rate

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