Location: Colombia

Year: 2022 - 2023

Objective: to design and implement a training program, based in learning by doing, to create awareness and knowledge on circular economy among the financial sector in Colombia and support the identification, assessment and formulation of bankable circular economy projects with impacts in a just transition (social) as well as environmental and economic benefits.

Institutions involved: BID-Invest financed the project, BASE coordinated it. Participants included Asobancaria, 12 banks and over 30 representatives of different areas of the banks. Participating institutions included public development banks, commercial banks and micro-financing institutions.

Results: 1 report with assessment of gaps and opportunities to promote the financing of circular economy in Colombia; One training program with 8 virtual synchronic sessions on circular economy for the financial sector, 1 face-to-face site visit to a circular economy company, 26 participants obtained a certificate for complying with the course requirements. 10 bankable circular economy projects designed by the financial institutions. Online platform with course material developed. Inputs for the action and follow-up plan to promote the financing of circular economy investments.