IBRD Loan: US$500 million
Terms: Maturity = 27 years; Grace Period = 8 years
Project ID: P106708
Project Description: This loan will promote an efficient, equitable and inclusive Social Protection System, as well as to mitigate the impact of the global economic crisis in Colombia. The project will consolidate a Social Protection System that responds adequately to the needs of all Colombians in terms of improvement of consumption (by means of programs that allow them to save for retirement, as well as unemployment and health insurance), prevention of poverty (by means of aid to help the poor reach a minimum of well-being and access to basic services); and accumulation of human capital (through training and the accrual of work experience to promote higher levels of employment).