Early Warning System

Countries

Colombia

Geographic location where the impacts of the investment may be experienced.

Specific Location

to be implemented in 22 departments of the Andean, Caribbean, Pacific and Orinoquía regions

Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.

Financial Institutions

Green Climate Fund (GCF)

International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.

Project Status

Approved

Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.

Bank Risk Rating

Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."

Voting Date

Mar 28, 2022

Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.

Borrower

Colombia

A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.

Sectors

Agriculture and Forestry
Climate and Environment

The service or industry focus of the investment. A project can have several sectors.

Investment Type(s)

Grant, Loan

The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.

Investment Amount (USD)

$ 73.30 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Loan Amount (USD)

$ 25.00 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Grant Amount (USD)

$ 48.30 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Project Cost (USD)

$ 99.90 million

Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.

Bank Documents

Primary Source

Original disclosure @ GCF website

Updated in EWS Apr 11, 2022

Disclosed by Bank Jan 7, 2022

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Project Description

If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

Colombia is suffering the effects of climate change, with increases in temperature, changes in precipitation regimes and a greater frequency and intensity of extreme weather and climate events. These changes affect agricultural production.

The project prioritizes production systems for rice, corn, coffee, banana-plantain, sugar cane, panela cane, potatoes and cattle.

The execution period will be five years with a scope/impact of 25 years.

The general objective of the project is to reduce the vulnerability of agricultural production to climatic threats. The project seeks to change the current paradigm of intensive use of inputs in agricultural production, little adaptation of technologies to reduce the vulnerability of crops to droughts, floods and other climatic stressors. For this paradigm shift, the project establishes three purposes:

(i) implement digital agriculture and climate services systems to modernize agricultural extension services and provide adaptation and mitigation recommendations that support the reduction of agroclimatic risks and crop loss, while promoting a low-carbon pathway;
(ii) develop, validate and scale technologies (genetic improvement, crop management and other technologies) to increase resilience and low-carbon agricultural development and;
(iii) strengthen the capacities of producers, technicians, and institutions for the adoption and implementation of technologies and propose new business models based on the massive adoption of technologies under environmental, social, and gender considerations.

It is estimated that the Project will directly benefit more than 619,691 people, 194,871 rural producers and their families directly and 347,996 producers indirectly; and it is expected to increase the climate resilience of the agricultural system in a total of 967,997 hectares, distributed in 22 departments (69% of the country's departments) and 219 municipalities (20% of all municipalities). The total emissions that the project expects to reduce throughout its life is 9,152,034 tCO2e.

Investment Description

Here you can find a list of individual development financial institutions that finance the project.

Green Climate Fund (GCF)

Contact Information

This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.