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Mortgages only represent 7% of GDP in Colombia, a lower rate than in many other Latin American countries.

The IFC DigiLab for Latin America and the Caribbean will look toward “helping businesses respond to new digital trends in the market."

The selected startups will get the opportunity to attend the World Economic Forum on Latin America in March in São Paulo.

Davivienda's 433 billion pesos in green bonds, with a 10-year term, have been acquired entirely by the International Finance Corporation.

Some of the funds will be devoted to improving fertilizer production, warehousing, and distribution in Colombia.