Regarding policies to mobilise domestic resources for development and improve fiscal conditions, Colombia has aligned its fiscal framework and the strategies of development banks with National Development Plans (NDP). The Integrated National Financing Framework under the United Nations Development Programme ensures that the General Budget of the Nation for 2020-24 integrates seamlessly with Sustainable Development Goals, optimising budget allocations across sectors. Colombia's Institutional Strategic Plan (2023-26) and the NDP (2022-26) co‑ordinate efforts to strengthen the fiscal system and foster sustainable economic growth. The fund for financing the agricultural sector (Finagro) democratised credit, promoting financial inclusion and allocating COP 35.6 billion (Colombian pesos) to green credits for sustainable agriculture over the 2022-26 period. Direct credit lines from Financiera de Desarrollo Territorial S.A. (Findeter) to electricity companies, and policies like Decree 263 of 2024 for subsidised housing development, further highlight Colombia's commitment to sectoral growth and resilience against environmental challenges, reinforcing its role in advancing nationwide sustainable development.
To advance a robust, inclusive, and sustainable financial market, Colombia has implemented initiatives led by the Ministry of Finance and Public Credit and entities such as Banca de las Oportunidades, Findeter, and Bancoldex, to deepen financial inclusion, support small businesses, and boost agriculture through programs like “Creo” and Development Credit. Initiatives such as Open Data and Immediate Low Value Payment Systems enhance financial products and expedite transactions, while efforts to promote gender equity, financial education, and capital market development attract investment. Reforms like the Capital Market Financing and Modernisation Law broaden market instruments and reduce operational burdens. Colombia is also integrating COP-denominated derivatives trading by 2025. Efforts like “Colombia, destino de inversión” and the Law 1955 of 2019 expand market accessibility, while regulatory reforms foster a vibrant financial ecosystem. Colombia's agenda in sustainable finance is evident through green, social, and sustainable bond issuances, alongside initiatives like “A2censo Crowdfunding,” which diversify funding for local businesses. The Colombian Financial Superintendence drives innovation with the Open Finance and Digital Supervision projects, promoting fintech growth, secure data exchange, and real-time risk assessment.
In terms of regional and international finance and partnerships to catalyse international resources, Colombia’s 2023-26 National Strategy for International Co‑operation secures USD 96 million for climate action, environmental justice, and the inclusion of the migrant population from bilateral donors and multilateral institutions. Initiatives like “Colombia + Competitiva” promote financial inclusion for micro, small and medium-sized enterprises, complemented by the World Bank Credit Project to drive sustainable transformation in agriculture. Collaboration with the French Development Agency is advancing electric vehicle mobility while ongoing negotiations with the IDB involve a credit facility backed by CIF resources, targeting decarbonisation, and accelerating inclusive energy transition. Preparation for the Fourth International Conference on Financing for Development underscores Colombia’s commitment, with its focus on a USD 4.5 billion Socio-ecological Transition Portfolio for biodiversity conservation, climate change mitigation, renewable energy, and sustainable rural development.