Colombia's largest banking groups agreed on Saturday to cut housing loan rates to 8% effective annual interest for families affected by a recent earthquake, following a direct request from President Abelardo De La Espriella at a meeting in Barranquilla on August 22.

The rate commitment matters because it came from the top of the country's financial hierarchy. Luis Carlos Sarmiento of Grupo Aval, Jaime and Gabriel Gilinski of Banco GNB Sudameris, and Miguel Cortés of Grupo Bolívar all accepted the president's terms in person. Two of those groups - Grupo Aval and Banco GNB Sudameris - are separately confirmed by a third source as having agreed to the 8% figure.

De La Espriella convened the session to coordinate reconstruction support and align financial leaders behind relief efforts for earthquake-affected communities. His ask was specific: bring the annual effective rate on housing loans for victims down to 8%.

Three publishers corroborate the agreement. What the record does not yet carry is the volume of loans that will be issued under the new rate, the geographic scope of which areas qualify, or a start date for disbursements. Those details would give a clearer picture of how many families the commitment will actually reach.