ANNOUNCEMENT 02 Apr 2020
In April 2020, the Colombian government announced a second credit line to support businesses in the context of the COVID-19 pandemic, in addition to the one launched in March 2020 (see related state act).
NUMBER OF INTERVENTIONS
Bancóldex. News. "$600 MIL MILLONES SUMA BANCÓLDEX PARA FINANCIAR EMPRESAS AFECTADAS POR EL COVID-19, A TRAVÉS DE LA LÍNEA COLOMBIA RESPONDE PARA TODOS". 02/04/2020. Available at: https://www.bancoldex.com/noticias/600-mil-millones-suma-bancoldex-para-financiar-empresas-afectadas-por-el-covid-19-traves-de-la-linea-3562
On 2 April 2020, the Colombia government and the Business Development Bank of Colombia (Bancóldex) announced the creation of a second credit line in addition to the “Colombia Responde” program established in March 2020 (see related state act). In this sense, an additional amount of COP 350 billion (approx. USD 86.6 million) is injected via a second credit program known as “Colombia Response para Todos”.
The second credit line extends the list of beneficiaries to all economic sectors (except agriculture), unlike the first measure that was focused on the aviation, tourism, and public entertainment sectors. The loan conditions are the same in the sense that loans are provided in domestic currency (COP) with a maximum amount per company up to COP 3 billion for SMEs, and COP 5 billion for large companies.
In this context, the President of Bancóldex Javier Díaz highlighted that with the resources “companies may finance payroll, purchase raw materials, supplies and other operating costs” (own translation).
A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the support granted here is discriminatory.