April 12, 2019 - 1:39 PM
WASHINGTON - The international community is providing a $31.5 million grant to help Colombia accommodate Venezuelan migrants and refugees as well as the communities that host them.
The funds provided by the Global Concessional Financing Facility — a platform launched in 2016 by the World Bank, the United Nations and the Islamic Development Bank— will be part of a $750 million development policy operation being prepared by the World Bank to support Colombia.
The World Bank said in a press release that the annual cost of hosting more than 1.2 million migrants and refugees from Venezuela is currently estimated at around 0.4% of Colombia's economic output.
The announcement came during the spring meeting held this week by the World Bank and the International Monetary Fund.
News from © The Associated Press, 2019