Bancolombia will strengthen its sustainable credit line for the circular economy with approximately 150 million dollars. The line of credit offers advantages such as a rate reduction of up to 100 basis points, terms adjusted to the type of project or asset to be financed, and grace periods of up to two years.

In all cases, the project must quantify the benefit it generates to the environment in terms of waste recycled or avoided, recirculated water, water from alternative sources, reduction in consumption, among others.

In addition, the bank launched a tool called “Circular Diagnosis”, designed based on international circular economy standards and evaluations, that allows SMEs and corporations to measure their current level of circularity. Through their results, the tool identifies opportunities in different dimensions that can be embraced by organizations in their transition towards a circular business model.