In a sign of Colombia's progress toward climate change mitigation, the Inter-American Development Bank (IDB) said Thursday it had approved a new loan to help the government implement carbon-reducing measures. Under the "policy-based loan" the IDB will transfer funds to the Finance Ministry in exchange for a commitment to implement projects focused on reducing carbon emissions and adapting to the effects of climate change, IDB Team Leader Javier Cuervo told International Oil Daily.
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