Nature Positive Cities Efforts to Advance the Tranistion Barranquilla 2025

2 Assessment of the enabling environmentProjects supported by international development banks The AFD: The AFD provided €170 million to finance a range of actions, including: 1 Restoration of Mallorquín Swamp, including mangrove planting and construction of the ecopark functional units 1 and 2 2 Construction of the Miramar Urban Forest and the planting of 8,000 trees in the city 3 Restoration of the city’s canals to better control flooding 4 The installation of solar panels in government buildings to boost renewable energy production 5 Development of a comprehensive air quality management plan to reduce the carbon footprint of the industrial sector 6 Strengthening solid waste recycling programmes to reduce waste going into landfill or the environmentThe IDB: The IDB has granted a $100 million sovereign- guaranteed loan to Barranquilla for the Biodiversity and Urban Equity Programme, which consists of three components: 1 Strategic ecosystems: This project aims to promote the sustainable use of ecosystems by funding the construction of environmental protection barriers to stabilize the coastline and prevent mangrove deforestation. It is also intended for the development of the Ecoparque Mallorquín, addressing pollution and urban growth. 2 Todos al Parque: This project focuses on increasing equitable access to public spaces and community centres through community-designed park spaces and the recovery of existing recreational areas. This component incorporates climate change adaptation, gender perspectives and universal accessibility. 3 Equitable city: This promotes integration and access to social services for migrants, women and people with disabilities. This component ensures universal access by financing multifunctional community centres and low-carbon, climate-resilient recreational infrastructure. Challenges identified –The current international financial architecture is country-centred, directing most development finance to national – rather than sub-national – governments. This limits cities’ direct access to capital and sidelines local priorities in funding decisions. –Municipal access to international finance is restricted by the need to align with national policies, loan conditions and timelines that rarely match local planning cycles. –Complex requirements – such as sovereign guarantees, compliance with sustainability standards and extensive bureaucratic procedures – further delay or block cities’ ability to secure affordable financing. –Cities are often perceived as high-risk borrowers due to political cycles, weak credit ratings and institutional limitations, resulting in higher interest rates, shorter loan tenors and limited investment in climate and sustainability projects. –Funding availability is often limited due to the government’s need to prioritize essential services – such as education, security and health – and the development of critical infrastructure. Improvement areas –Continue to strengthen partnerships with multilateral development banks, philanthropic organizations and private-sector entities that have a clear nature-positive mandate and can help the city achieve its nature-positive objectives. –Assess the viability of financing projects through green financing mechanisms such as green bonds, environmental impact fees, tax incentives and green revolving funds. Nature Positive: Cities’ Efforts to Advance the Transition – Barranquilla 27