Colombia will receive investment from the UK to combat climate change

In a meeting with Alok Sharma, President of COP26, the UK government announced that 19 climate change-related projects would be launched in the country.

It is funded by US$9.73 million through the UK Charter programme. The goal is to support the country in the goal of reducing greenhouse gas emissions by 51% by 2030.

The news came amid the launch of the Climate Finance Leadership Initiative (Cfli) in Colombia, during which the Climate Finance Accelerator was created to mobilize resources towards low-emissions projects.

During the meeting, the Minister for Trade, Maria Zimina Lumpana, confirmed that the UK is the third largest investor and that this year’s $480 million investment in infrastructure, renewable energies and mobility is expected to be formalized.

In addition to his appointment with British Prime Minister Boris Johnson, President Ivan Duque He also met with businessmen from the UK and explained the reasons why Colombia is one of the most attractive countries for investment in Latin America.

He stressed that during his tenure, Colombia achieved the highest economic growth rate in history, with an increase of 10.6% in 2021. Likewise, it will set a record by recording the best first quarter in 2022 since the beginning of this century, with growth. 8.5%, according to Danish figures.

However, in addition to the balance on economic matters, Duque noted the progress made at the social level, referring to the results of the Multidimensional Poverty Survey. He stressed that in this case, the country was able to record the lowest rate in history, as happened with the rate of informal activity, which decreased by 3.3 percentage points from the first three months of last year.

In the middle of his speech, the president assured British investors that “the country is ready and open for business and creating access to new markets, thanks to the most robust regulation in its history”.