Bancoldex, Colombia’s development bank, has announced a new $50 million line of credit for microenterprises and small businesses to finance projects that reduce greenhouse gases, adapt to climate change, or mitigate environmental impact.
The credit like has a term of up to 3 years, and may be used to finance various green investments, including energy efficiency projects or replacing old equipment with more efficient devices. Similarly, sustainable development projects such as process re-engineering, eco-innovation, management options and use of waste and emissions can also be financed. Finally, renewable energy projects such as the use of biomass, transportation and logistics improvements and the acquisition of hybrid, electric or natural gas vehicles are included.
• This is the first line of credit that seeks, exclusively, to promote green investments in small amounts (up to $50 million pesos, or approximately $15,000 USD) With this effort, the Ministry of Commerce and Bancoldex hope to help sustainability be a key element in the growth of the business sector in all segments.
• The credits may be accessed by micro and small companies in the country that are interested in investing in the optimization of business processes, saving on energy and water consumption in order to mitigate the environmental impact of their economic activity.
The credit may be requested through banks, financial corporations, financing companies, financial cooperatives, financial NGOs, cooperatives with savings and credit activity, employee funds, compensation funds and other entities, with credit facilities available in Bancóldex.