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Advance the mobilization of climate finance in Colombia’s AFOLU sector through Direct Access Entity support and implementation of the country’s green taxonomy for the agriculture and forestry sectors
The document outlines a readiness project to bridge the financial gap in Colombia's AFOLU sector, which accounted for 58% of national GHG emissions in 2020. The project focuses on three main barriers: Finagro's limited capacity to operationalize its Environmental and Social Management System (ESMS) and Gender policies, the lack of capacity among first-tier financial intermediaries to implement GCF investments, and the low adoption of the national green taxonomy. Key activities include developing operation manuals for Finagro, training Bancamia staff on risk analysis and green investment, and designing two new financial products aligned with the green taxonomy. The project is implemented by the Global Green Growth Institute (GGGI) over an 18-month period.
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Document type: Report