The Ministry of Finance met with banking sector representatives to discuss the forced investment proposal promoted by President Gustavo Petro, amid the economic and climate emergency. The initiative aims to require financial entities to allocate resources to priority sectors defined by the Government. The parties agreed to establish technical tables to evaluate a relief package proposed by the banks.
In a recent meeting, the Ministry of Finance and banking sector leaders discussed the implementation of forced investments, a regulatory mechanism by which the State requires banks to allocate a portion of their resources to specific credits or uses designated as strategic. The proposal, promoted by President Gustavo Petro, arises in the context of the economic and climate emergency, aiming to mobilize resources for reactivation without raising taxes or traditional debt. The Government argues that the financial system does not channel enough funds to productive activities.
Participants included Jonathan Malagón and Carlos Ruiz from Asobancaria; María Lorena Gutiérrez from Grupo Aval; Juan Carlos Mora from Bancolombia; Javier Suárez from Davivienda; Mario Pardo from BBVA; and Diego Prieto from Banco Caja Social. The discussion ended with an agreement to start technical tables to evaluate a special relief package proposed by the financial entities, focused on areas affected by the climate phenomenon. According to Malagón, president of Asobancaria, this alternative includes reliefs for unprecedented emergency zones and new productive credits for effective recovery, though it remains a proposal under review.
The financial sector has voiced opposition, warning that the measure could raise credit costs, increasing average rates by 50 to 100 basis points, reduce financing availability, and disrupt the natural functioning of the system by disregarding risk and profitability criteria. Final conclusions are expected to be published between the end of this week and the beginning of the next, prioritizing solutions for people affected by the climate.
