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Economy & Business - May 2021

COLOMBIA: Committed to reviving the ‘orange economy’

On 8 April, the ninth meeting of the Colombian council for the ‘orange economy’ (creative and cultural sectors) took place in the country’s capital, Bogotá. Among the measures proposed for boosting the recovery of the creative industries in Colombia was a commitment to provide Col$6.5trn (US$1.72bn) in funding for the sector in 2021. A two-year recovery plan was also announced, offering a joint strategy incorporating both the public and private sectors. This would include Col$7trn in government-backed loans, Col$2.8trn leveraged through tax incentives for the private sector, and Col$2.4trn of public investment at a national and regional level.

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