OFFICIAL         I
DOCUMENTS
STATUTORY COMMITEE REPORT
TO: The President, International Bank for Reconstruction and Development
Report of Committee under Section 4 (iii) of Article III of the Articles of Agreement on the
Proposed Loan (First Programmatic Sustained Growth and Income Convergence Development
Policy Loan) to the Republic of Colombia.
The undersigned Committee constituted under Section 7 of Article V of the Articles of Agreement
of International Bank for Reconstruction and Development (the Bank) hereby submits its report pursuant
to Section 4 (iii) of Article III of said Articles in respect of the proposal that the Bank grant to the
Republic of Colombia (the Borrower) a loan in an amount of $700,000,000. The purpose of said loan is
to support the Borrower's program of actions, objectives and policies designed to: (i) improve the
access to financial markets for road infrastructure investments and firms; (ii) improve training, build
productive skills and improve its allocation; and (iii) strengthen regulations that affect innovation and
business efficiency, as means to support sustained growth and income convergence.
1.   The Committee has carefully studied the merits of the proposal to grant such a loan, and of the
purpose to which the proceeds of the loan are to be applied.
2.    The Committee is of the opinion that the Program in support of which the proceeds of such loan are
to be applied comes within the purposes of the Bank as set forth in Article I of said Articles of Agreement,
and that said Program is designed to promote the development of the productive facilities and resources of
the Republic of Colombia and is in the interest of the Republic of Colombia and of the members of the
Bank as a whole.


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Republic of Colombia                            (First Programmatic Sustained Growth and
Income Convergence DPL)
3.   Accordingly, the Committee finds that said Program merits financial assistance from the Bank, and
hereby recommends said Program for such assistance.
COMMITTEE
Senior Vice President and Gro General C4unsel
E,, r   t e  Governor for
tlRe'blic of Colombia
ional Vice President
Latin Am  ca and the Caribbean
Vice President, World Bank Group Chief Risk Officer
f   Senior Vice President and Chief Economist
Dated at Washington, D.C.