LatinNews Regional Monitor: Andean Group - 06 April 2020

* The Colombian government has received a US$250m emergency loan from the World Bank to protect the country’s economy against the effects of the coronavirus (Covid-19) pandemic. Ulrich Zachau, the World Bank director for Colombia and Venezuela, said the ‘Catastrophe Deferred Drawdown Option’ (Cat DDO) loan seeks to provide immediate credit during a state of emergency, for countries that have previously complied with the World Bank’s disaster risk management requirements. Zachau said “we recognise Colombia’s efforts since 2009 to implement financial tools to strengthen its liquidity capacity to face situations as critical as those we are experiencing today”, and promised “an injection of funds for the welfare of the entire population”.

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