IAHL Corporation (IAHL)

[energybuyer]

The loan has a 20-year term, with a three-and-a-half year grace period, and will be disbursed this year, a ministry official told Reuters.

In addition, the financing will help pay for budget items this year and next, the official added.

The reform program will also push sustainable land use, particularly in Colombia's moorland paramos, encourage sustainable livestock rearing and accelerate a land registry to help tackle deforestation.

"This operation supports Colombia's strong commitment to address climate change through policy reforms aimed at sustainable, resilient, and low-carbon development," Mark Thomas, World Bank director for Colombia, Mexico, and Venezuela, said in the statement. (Reporting by Nelson Bocanegra, Writing by Oliver Griffin, editing by Ed Osmond)