BID clarifies $63 million for Colombia's incoming government, not transition

The Inter-American Development Bank (BID) clarified that it has approximately US$63 million in non-reimbursable technical cooperation funds for Colombia, but stressed these are already-approved operations, not new financing for the government transition as previously suggested. The clarification followed a right of petition by Caracol Radio that prompted the bank to specify the funds are for technical cooperation projects, not free-disposal transfers.

What happened

Initial reports suggested the BID had allocated US$60 million for the transition between the outgoing and incoming governments. However, the BID's letter, signed by representative Ramiro López-Ghio, stated: “The resources of the active portfolio do not represent new financing by the bank to the country, nor do they constitute transfers for free disposal or budgetary support.” Source: larepublicaco Subsequently, the BID issued a new statement confirming the active portfolio of US$63 million for technical cooperation, including support for the incoming government's strategic initiatives.

The reaction

Vice President-elect José Manuel Restrepo welcomed the clarification, stating the funds will support the design of the National Development Plan, structuring strategic projects, and strengthening state capacity. He emphasized that the resources do not increase Colombia's external debt. Source: portafolioco The BID also announced a technical mission led by Vice President Anabel González on July 29-30 to identify priority projects. Source: infobae