Support to Venezuelan Migration

The World Bank Board of Executive Directors approved a US$500 million loan today aimed at supporting the Colombian government’s strategy for the social and economic integration of Venezuelan migrants in that country.

The Global Concessional Financing Facility (GCFF) announced today a US$31.5 million grant as budget support for Colombia’s efforts to facilitate access to jobs and basic social services for Venezuelan migrants and refugees, as well as the communities that are hosting them.

The Global Concessional Financing Facility (GCFF), through the World Bank as its administrative secretariat, announced today the eligibility of Colombia for concessional funding to respond to the needs of more than one million Venezuelans, who have entered the country since 2017 fleeing an ongoing crisis at home.  

Migration from Venezuela has brought additional demand for basic services in Colombia like health and education. This is placing pressure on finances over the short-term and affecting the most vulnerable, including indigenous people and children, both among migrants and local communities. However, if well managed, it can generate medium and long-term economic growth in Colombia, according to a World Bank report launched today.

Colombia has become the main recipient of this exodus; Venezuelan migrants and refugees settle in Colombian towns and cities with the hope of having a better future. The receiving areas have become “cities of hope” for them, with economic opportunities and social ties being some of the main factors of attraction when choosing their destination. 

The campaign was designed to address xenophobia with a DYK format, mainly delivered through Facebook and Twitter.