INSUBCONTINENT EXCLUSIVE:
The initiative, a collaboration between the government and private banks, disbursed 10.6 trillion Colombian pesos ($2.49 billion) in its
first 30 days.This substantial sum primarily benefited the energy transition sector, signaling a strong start to the 18-month program
The Credit Pact aims to stimulate economic growth by channeling funds into key sectors.Manufacturing and energy transformation saw the most
significant boost, with a 33% increase compared to the previous year
Housing and infrastructure followed with 22% growth, while tourism experienced a 26.1% uptick.Finance Minister Ricardo Bonilla highlighted
the positive impact of falling interest rates on credit reactivation
rates have decreased by 5% annually.He expressed a desire for even more pronounced reductions in the future
After 19 meetings between officials and banking representatives, they reached a voluntary agreement.This approach aims to channel
substantial resources into strategic economic areas without resorting to forced investments.Over the next 18 months, the banking sector has
committed to disbursing 55 trillion Colombian pesos (approximately $14 billion) to five key economic sectors.These include housing,
infrastructure, manufacturing, tourism, agriculture, and the popular economy
This commitment marks a 28% increase in credit disbursements to these sectors.Analysts project overall GDP growth between 1.7% and 2% for
The Credit Pact is expected to generate an additional 0.5% growth in GDP by 2025.This initiative comes at a crucial time as Colombia seeks
to boost its post-pandemic economic recovery
