Bancolombia, IDB Open More than 30,000 Bank Accounts with $1.7 Million USD Financial Inclusion Project

Medellín-based Bancolombia and the Inter-American Development Bank (IDB) last month concluded a partner investment $1.7 million USD to promote financial inclusion in Colombian through technology.

Across 16 municipalities in the country, the multi-year program led to more than 30,000 new bank accounts being opened and some 2,000 people receiving education in financial services. In line with the tech aspect of the initiative, the Bancolombia app was also downloaded more than 10,000 times.

The program spanned eight departments in Colombia: Antioquia (in the municipalities of Yarumal, Caucasia, Tarazá, Valdivia, Hispania, and San Rafael), Boyacá (Sogamoso and Nobsa), Caquetá (San Vicente del Caguán and Cartagena del Chaira), Cauca (Santander de Quilichao), Córdoba (Montelíbano), Sucre (San Onofre), Meta (Puerto Rico and Villavicencio), and Santander (Charalá).

(Photo credit: Jared Wade)