Aware of the strategic role of financing in transforming the Colombian countryside, The Financial Fund for the Agriculture Sector - FINAGRO and UNDP have designed a roadmap to greening agricultural credit. The goal is for access to credit to not only boost productivity but also strengthen ecosystem conservation.
This objective represents the materialization of the analysis of agricultural sector incentives with negative impacts on biodiversity in Colombia, conducted by the Biodiversity Finance Initiative (BIOFIN). It supports the national government in designing financial solutions aimed at mobilizing, redirecting, and optimizing public and private resources for biodiversity conservation.
In this context, this document presents the progress Colombia has made in analyzing and reforming harmful financial incentives, with the aim of aligning rural development and financial policies with the international commitments undertaken by the country under the Convention on Biological Diversity (CBD). Likewise, it introduces the first incentive reform roadmap for Colombia, which FINAGRO and UNDP BIOFIN are implementing to align agricultural credit with sustainable production models, using a methodology that combines the ecosystem approach with technical, financial, and social criteria. The process has brought together experts from the financial, agricultural, and environmental sectors to initially work on six productive value chains: cattle ranching, rice, cocoa, coffee, cassava, and non-timber forest products, selected for their territorial importance, level of organization, and credit demand.
