New U.S.-Colombia Growth Initiative to leverage DFC investment to expand quality economic opportunity
BOGOTÁ – U.S. International Development Finance Corporation (DFC) Chief Executive Officer Adam Boehler and U.S. National Security Advisor Robert C. O’Brien joined Colombian President Iván Duque to announce the launch of the U.S.-Colombia Growth Initiative. This bilateral initiative will strengthen U.S.-Colombia cooperation while leveraging whole-of-U.S. Government tools and resources to create economic opportunity in rural Colombia.
“Many Colombian farmers have little choice but to seek income through the production of illicit drugs,” said Boehler. “President Duque and I are committed to constructing a comprehensive, multibillion-dollar investment plan that focuses on providing economic opportunity to the Colombian people, particularly farmers.”
“Colombia is one of our strongest partners in the Western Hemisphere,” said O’Brien. “Our relationship is comprehensive. Today, we further strengthen our commercial ties, as broad-based economic growth is one of the best guarantors of security and stability in Colombia and throughout the region.”
“I appreciate the visit, and I believe that this new chapter is a new phase of the 21st century; of a bilateral, binational, and common-purpose strategy; of a short-, medium-, and long-term strategy; all with the aim of boosting the growth of our country,” said Duque. “We welcome it with joy because it fits perfectly into our strategy to reenergize Colombia with a commitment to infrastructure development; to 4G and 5G highways of increased connectivity; to making investments in energy, social investments, irrigation districts, and integration with the rural sector. We believe that this strategy will help Colombia as it confronts the effects of COVID-19. But above all else, this strategy—the Colombia Growth Initiative, the Colombia Crece Initiative—will help Colombia achieve its long-term objectives.”
The U.S.-Colombia Growth Initiative will focus on efforts to advance economic and rural development including roads, land titling, the rule of law, infrastructure improvement, and strategic communications. DFC’s potential investments will focus particular attention on projects that empower rural Colombians and expand economic opportunities for farmers.
DFC currently has over $1 billion invested in more than 30 projects across Colombia in sectors ranging from critical infrastructure to financial services. DFC’s efforts under the U.S.-Colombia Growth Initiative underscore the agency’s continued commitment to supporting the people of Colombia.
U.S. International Development Finance Corporation (DFC) is America’s development bank. DFC partners with the private sector to finance solutions to the most critical challenges facing the developing world today. We invest across sectors including energy, healthcare, critical infrastructure, and technology. DFC also provides financing for small businesses and women entrepreneurs in order to create jobs in emerging markets. DFC investments adhere to high standards and respect the environment, human rights, and worker rights.