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The GCF Accreditation Panel recommends the accreditation of Bancóldex, a Colombian state-owned development bank, as a national direct access entity. The bank is recommended for a 'medium' project size category (USD 50 million to USD 250 million) and a 'medium' environmental and social risk category (B/I-2). While Bancóldex demonstrated strong fiduciary capacities in project management, grant allocation, and on-lending, the panel identified gaps in whistleblower protection, gender policy, E&S information disclosure, and grievance redress mechanisms. These gaps are framed as conditions for accreditation to be met either before the master agreement becomes effective or before the first funding proposal is submitted.

The project aims to address the degradation of coastal marine ecosystems in the Archipelago of San Andrés, Old Providence, and Santa Catalina caused by unplanned mass tourism. It focuses on strengthening institutional capacities, generating reliable data on tourism impacts, and supporting small-scale local tourism businesses to adopt sustainable, biodiversity-friendly models. The intervention includes developing a Sustainable Tourism Plan, conducting carrying capacity assessments, and implementing monitoring programs for critical ecosystems and sensitive species.