Economic integration

World Bank to provide strategic support for social and economic integration of Venezuelan migrants in Colombia – Colombia

WASHINGTON, November 16, 2021 – The Board of Directors of the World Bank today approved a loan of $ 500 million to support the Colombian government’s strategy for the social and economic integration of Venezuelan migrants in the country.

This is the first Development Policy Financing (DPF) of the World Bank focused exclusively on cross-border migration, focusing both on the integration of the vulnerable migrant population as well as on the reception areas. The loan will include an additional US $ 26.4 million from the Global Concessional Finance Facility (GCFF).

The operation aims to strengthen the legal and institutional basis for the medium and long-term integration of migrants in Colombia, which hosts the second largest number of vulnerable migrants in the world, by supporting the implementation of public policies essential for development. social and economic. the integration of this population, in particular the launch of the Temporary Protection Status (TPS) for Venezuelan migrants.

“This operation is very important for Colombia, because it will allow the national government to guarantee the necessary resources to ensure the continuity of its strategies in terms of recovery and equitable and inclusive economic growth“, declared Alejandra Botero Barco, director of the Department. national planning. . “In addition, it strengthens the World Bank’s support for government efforts to advance the protection and social inclusion of the migrant population in a way that enables them to participate in productive activities and in the social protection offerings of the country. State which, in turn, will advance the prosperity of the country.

The operation will support the TPS, the Colombian government’s migration policy mechanism that allows migrants to be regularized and integrated into society, while providing them with a path to education, health and formal employment. This includes the regularization of more than 1.74 million Venezuelans under this status and the integration of 700,000 into the general system of social health security.

In addition, the project will support the vaccination of more than one million Venezuelans, as well as access to rental subsidies to improve housing conditions in the main host areas.

The project also seeks to strengthen coordination mechanisms at national and subnational levels to meet the needs of the migrant population and reduce their vulnerabilities. It also includes measures to help the most vulnerable migrants, such as the indigenous population, the transgender population and minors.

“Colombia is a global example in terms of responding to Venezuelan migration, providing truly innovative solutions that enable the integration of Venezuelan children, youth, women and men. This approach is the most appropriate from a development point of view, because the integration of this population can benefit the growth of the country, ”said Mark R. Thomas, World Bank Country Director for Colombia, Mexico and the United States. Venezuela. “In addition to being a great development opportunity for the country, this project will contribute to improving the quality of life of Venezuelan migrants and host communities.

Since the start of the Venezuelan exodus in 2015, the World Bank has mobilized its global experience to support host countries in the process of integrating this migrant population. Colombia has worked on this integration with the idea that a well-managed migration process is a development opportunity for the country. For this reason, the World Bank reiterates its support and commitment to Colombia in the implementation of policies offering opportunities to migrant and host populations.

The National Planning Directorate (DNP), with the support of the Border Management Division of the Office of the President of the Republic, Migracion Colombia and the Ministry of Foreign Affairs, will be responsible for coordinating the actions necessary for the implementation implementation of this project.