International Economic Development Council: CAF to allocate $2.5 billion for sustainable ports: entities reveal blue economy strategies

Glenn

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Date posted

July 10, 2025

Source: International Economic Development Council
Author: unknown
Date published: 2025-07-10
[original article can be accessed via hyperlink at the end]

During the OECD Local Development Forum held in the Atlantic capital, the session entitled ‘The green wave: opportunities for workers and businesses in coastal and port communities’ became one of the most vibrant spaces of the event, addressing the challenges and opportunities offered by the green economy for territories historically dependent on extractive industries, such as multinational coal companies or traditional port trade.

(Lea también la versión en español)

LEA TAMBIÉN

Barranquilla speaks to the world

The forum, moderated by Nathan Ohle, president and CEO of the International Economic Development Council (IEDC), brought together world-class experts to share practical experiences on how to take advantage of the green transition without leaving workers and communities behind. 

Participants included Alberto Cappato, Director of Innovation at the Port of Genoa (Italy); Denis Leamy, from Ireland’s technical training system; Alicia Montalvo, Climate Action Manager at CAF; Juan Manuel Rojas, President of Promigas; and Manuel Fernández, President of the Barranquilla Chamber of Commerce.

Puerta de Oro is the venue for the OECD Local Development Forum 2025. Foto:Sergio Cárdenas. EL TIEMPO

Barranquilla, a model for growth in the Caribbe

Manuel Fernández highlighted the transformation that Barranquilla and the department of Atlántico have undergone with figures. "Bogotá, Risaralda, and Atlántico have been the three territorial entities that have grown the most in the last five years. In fact, Atlántico grew faster than Bogotá,” he said.

We are among the fastest-growing regions in Colombia. But while that is happening, La Guajira and Cesar are in recession. This is largely due to their high dependence on mining and an energy transition that has not been fair or adapted to their realities

Manuel FernandezBarranquilla Chamber of Commerce

Fernández explained that the region’s economic progress is not the result of chance, but of joint efforts between local governments and business leaders.

"We are among the fastest-growing regions in Colombia. But while that is happening, La Guajira and Cesar are in recession. This is largely due to their high dependence on mining and an energy transition that has not been fair or adapted to their realities," he said with concern.

Manuel Fernández, executive president of the Barranquilla Chamber of Commerce. Foto:Alcaldía

In this context, he proposed a regional coordination strategy that focuses on innovation and sustainable development. “We must create three technological research and development hubs in the Colombian Caribbean. One of them will focus on sustainable agribusiness between Bolívar, Córdoba, and Sucre, and another between Barranquilla, Cartagena, and Santa Marta, which have a population of nearly seven million people, as a platform for coastal investment and innovation,” he said.

Barranquilla was chosen as the venue for the 2025 OECD Local Development Forum. Foto:Alcaldía

The blue economy as an engine of change

For her part, Alicia Montalvo Santamaría, from the Development Bank of Latin America and the Caribbean (CAF), called for a reconnection between productive development and nature. “At CAF, we are convinced that we must move towards an economy based on biodiversity. This involves using technologies such as artificial intelligence, data analysis, and bio-inspiration to develop new economic models,” she said.

We are incorporating these efforts into our blue economy plans. But infrastructure is not enough: we also need training, technical cooperation, and institutional strengthening.

Alicia Montalvo SantamaríaCAF

One of the most significant announcements came from CAF: an investment of US$2.5 billion over the next five years to support the sustainable transformation of Latin American ports.

“We are incorporating these efforts into our blue economy plans. But infrastructure is not enough: we also need training, technical cooperation, and institutional strengthening,” said Montalvo.

Promigas: energy transition from existing infrastructure

Juan Manuel Rojas, president of Promigas, shared the company’s approach to contributing to a fair, low-emission, and affordable energy transition. “Our goal is to be carbon neutral by 2040, a decade ahead of the national target. By 2028, we want to reduce our emissions by 50%,” he said.

One of the pillars of this transition is the conversion of old infrastructure. “We are working on transforming an oil pipeline that carries less and less fuel into a gas pipeline. This allows us to avoid new construction and take advantage of what already exists. It is one of the longest conversions in the country, and we are doing it together with Senit,” he explained.

The OECD enlists the participation of national and international leaders. Foto:Alcaldía

In addition, Promigas is leading the only green hydrogen pilot project in operation in Colombia, located in Cartagena. “For two years, we have been mixing green hydrogen with methane in the city’s distribution networks. We are conducting tests to identify the optimal blend ratio,” he revealed.

Last year, we provided $250 million in microloans ranging from $100 to $400 to replace old refrigerators, fans, and washing machines. Ninety-four percent of these loans were taken out by families in socioeconomic strata 1, 2, and 3, and 60% by female heads of household. That is a just transition

Juan Manuel RojasPresident of Promigas

But beyond infrastructure, Rojas insisted on the importance of energy social justice. “We created the Multidimensional Energy Poverty Index to understand how households consume energy and how we can make it more efficient,” he said. Based on this indicator, Promigas has granted non-bank loans for the purchase of more efficient appliances.

“Last year, we provided $250 million in microloans ranging from $100 to $400 to replace old refrigerators, fans, or washing machines. Ninety-four percent of these loans were taken out by families in socioeconomic strata 1, 2, and 3, and 60% by female heads of household. That is a just transition,” he emphasized.

Barranquilla was chosen as the headquarters of the OECD for its sustainable development. Foto:Alcaldía

International experiences: Genoa and Ireland

Alberto Cappato, from Genoa, presented the experience of Porto Antico di Genova, an initiative that has transformed the city’s waterfront into an ecosystem of innovation, sustainable tourism, and urban regeneration.

Denis Leamy, from the Irish education system, highlighted the importance of closing skills gaps so that communities can actively participate in the green economy.

“The transition must be accompanied by practical education. We must trust young people; they are not the problem, but part of the solution,” he emphasized.

The forum made it clear that the green transition is not an option but a necessity, and that coastal and port communities can become protagonists of change if public policies, private investment, and local capacity building are properly coordinated.

Barranquilla, together with Cartagena and Santa Marta, has the potential to consolidate itself as a regional platform for sustainable innovation, while other regions of the Colombian Caribbean require urgent economic restructuring and job training efforts.

Fernández explained that the region’s economic progress is not the result of chance, but of joint efforts between local governments and business leaders.

LEONARDO HERRERA

EL TIEMPO

Editor’s note: This text is an artificially intelligent English translation of the original Spanish version, which can be found here. Any comment, please write to berdav@eltiempo.com

View original article at:
https://www.eltiempo.com/colombia/barranquilla/caf-to-allocate-2-5-billion-for-sustainable-ports-entities-reveal-blue-economy-strategies-3470858

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