“Bancoldex with this investment is not only supporting the reactivation of Providencia, but also corresponds to the first steps to promote initiatives that allow bringing capital alternatives to microentrepreneurs from different regions of our country, «said Javier Díaz Fajardo, President of Bancoldex

“The UNDP is a pioneer actor strengthening the entrepreneurial ecosystem of the island, pursuing community building and resilience. We have carried out an extensive support process with several businesses and by participating in Blooming Roots, we seek the continuity of our efforts ” said Alejandro Pacheco Colombia Deputy Resident Representative

“The Providencia project is totally aligned with GBF’s central theory of change— that tweaks and blending in the business sector are often required for capitalism to reach into more challenging segments and geographies. This is what we do, and is important, if we are to provide to all, the benefits of a peaceful, equitable, democratic, and market-based society. We are also delighted to be working with ample Colombian government and local players, to provide a strong and coordinated effort to renovate the SME sector with attendant benefits to the Providencia and Colombian economies” said Harold Rosen, GBF’s CEO

“For us, Blooming Roots Fund is an opportunity to show private investors that through innovative finance and a hands-on approach, it is possible to generate financial returns while solving critical development issues such as reactivating the businesses of an island devastated by a hurricane. A hurricane and Covid-19 struck Providencia and Santa Catalina’s entrepreneurs. They need custom instruments to reactivate their businesses, and the blended vehicles that we use, are an alternative to traditional forms of finance.” said David Sanchez, AMPLO’s Managing Partner.