The project will strengthen Colombia’s program to manage risks from climate, disaster, and public health shocks by improving access to financial instruments (e.g., contingent credit, parametric insurance) and advancing resilience and climate adaptation policies across sectors and at subnational levels.
The development objective of the Green and Resilient Development Policy Operation for Colombia is to accelerate climate action by: (i) advancing the low-carbon energy transition; (ii) promoting sustainable land use; and (iii) building resilience and adaptation to climate change. This development policy loan (DPL) is fully aligned with core priorities of the new government, which is committed to accelerating the implementation of the low-carbon and resilient development agenda.
The project's global environmental objective (GEO) is the same as the project's development objective (PDO), namely, to improve governance and promote sustainable land use activities in order to reduce deforestation and conserve biodiversity in the Project area. The project will restore forested areas and train communities on forestry management.
