Development Bank of Latin America (CAF) approves a loan to promote Colombian public sector digital transformation It thereby creates social and economic value, stimulates productivity and contributes to the well-being of the people.

With this, Entity seeks to contribute to the reactivation strategy in the face of the impact of the Kovid-19 Pandemic.

(Lee: The importance of CAF in Latin America and the work it does).

The loan is worth $ 500 million Its investment will focus on promoting the strategic use of digital investments, offering quality digital public services, and utilizing data and artificial intelligence to improve public policy.

“The loan represents support for the recent progress made by the Colombian government in terms of digital transformation. These funds will help accelerate the state’s digital innovation, economic recovery and make the country’s public management more efficient.Rennie Alberto Lopez has announced who will replace CAF’s interim executive president. Colombian Sergio Diaz-Granados from next September.

Resources will be allocated to the state’s Digital Transformation Support Program to reactivate the economy; It seeks to prevent the integration of digital technologies in public institutions and to reduce barriers to economic and social value through new processes and products related to the use of technology. Interventions in the field of digital transformation in various organizations and promote the development of data governance and artificial intelligence as an accelerator of digital transformation.

(See: Who is the new President of CAF, Sergio Diaz-Granados?).

Similarly, it wants to strengthen the institutional framework and develop capabilities in the state so that the country can resume the development path it was on when Kovid-19 was hit and support the government’s efforts.

CAF works with this country’s digital transformation agenda Advice and technical assistance in areas such as public innovation, data governance, artificial intelligence, regulatory streamlining, and government entrepreneurship.

Over the past five years (2016-2020), Colombia’s operations approved $ 9,164 million, representing an average of $ 1,833 million per year, equivalent to 14% of the total CAF approved during this period.

(See: How can women at the border reactivate SMEs?).

During the same period, the total distribution was $ 9,803 million (19.8% of the total distribution was distributed to shareholders). Until December 2020 Colombia’s portfolio reached $ 3.036 million, equivalent to 10.6% of CAF’s portfolio.

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