A refugee fund set up by the World Bank, the United Nations and the Islamic Development Bank on Friday approved a $31.5 million grant for Colombia to aid Venezuelan migrants and refugees. The Global Concessional Financing Facility grant provides budget support to Colombia as it works to facilitate access to jobs and basic social services to improve the migrants’ lives, the World Bank said. The grant will aid the communities hosting the migrants.
“These non-reimbursable resources will help finance the significant fiscal effort Colombia is making to host and help the Venezuelan migrants in the best way possible.”
The concessional funding is part of a $750 million development policy financing package being prepared by the World Bank to support Colombia’s fiscal sustainability, economic competitiveness and migration challenges.