World Bank green lights $1 bln loan for Colombia's energy transition

The World Bank Board on Tuesday approved $1 billion in financing for Colombia to help the country accelerate its energy transition, promote sustainable land use, and build resilience in the face of climate change, it said in a statement.

The loan will support a reform program to assist Colombia's moves to lower its carbon emissions, particularly in the energy and transport sectors, including by increasing non-conventional renewable energy production output and developing a green hydrogen industry, the World Bank added.