Humankind has achieved a level of greatness unknown to its predecessors: today we freely traverse the globe as we please and live comfortable lifestyles, infatuated with the belief that we live in a place where almost anything is possible.
Unfortunately, this whimsical attitude cannot last in a world unable to keep up with each and every whim and passing fancy of the human heart. With the inevitable effects of climate change ravaging the one and only planet in which we live, a growing endeavor to find sustainable approaches and solutions for countries around the world continues to be a top priority on the nation’s agenda.
Recognizing this importance, the World Bank Board of Executive Directors approved a $700 million loan which supported green growth in Colombia as well as environmental developments within the country. It was through this Development Policy Loan (DPL) that Colombian administration’s budgetary program was supported.
The National Development Plan for Colombia has several initiatives in support of a green growth strategy which include “reducing water and air pollution as well as the final disposal and recycling of solid waste,” states an article by the World Bank.
Challenges that Colombia faces in this effort include an aversion to adaption in the face of climate change and a “reduction in the costs of environmental degradation on health,” says the World Bank. However, this loan will present a unique and golden opportunity to promote social, economic and environmental developments for this country.
According to the World Bank, “the rate of exploitation of Colombia’s natural resources is greater than the average for Organization for Economic Development and Cooperation (OECD) countries. For example, extensive cattle raising, mostly undertaken in unsuitable lands, has caused significant deterioration in land use. Equally, the industrial sector is one of the biggest culprits behind organic pollution and the deterioration of water quality in Colombia.”
With the poorest and most vulnerable people suffering the most from environmental degradation issues, advances in environmental sustainability will be welcomed and embraced throughout this region. This loan will not just benefit the very poor but also seeks to improve productivity and overall quality of life for all Colombians.
Future endeavors will focus on strengthening the response capacity to climate change and natural disasters that affect the country. As often as this is repeated, its message stays true: only by investing in these issues today can we create a future for tomorrow.
– Nikki Schaffer
Sources: DNP, World Bank