• The deal will finance sustainable construction, energy efficiency, agriculture, and circular economy.
• Projects will align with UN Sustainable Development Goals, promoting equitable economic growth.

IDB Invest and Banco Bilbao Vizcaya Argentaria Colombia S.A. (BBVA Colombia) announced the issuance of sustainable bonds totaling $100 million to finance green and social projects in Colombia. IDB Invest will subscribe $50 million and the International Finance Corporation (IFC) will subscribe the other $50 million.

This bond will allow BBVA Colombia to strengthen its capital base and support its growth strategy in portfolios focused on sustainable and inclusive development. The funds will finance green projects such as sustainable construction, energy efficiency, agriculture, and circular economy. They will also support access to financing for micro, small, and medium-sized enterprises (MSMEs), including those led by women, in the Amazon region and for affordable housing. These projects will contribute to climate change mitigation and equitable economic growth in Colombia.

The funds obtained will expand the financing of BBVA Colombia's green and social portfolios in accordance with the eligibility criteria of sustainable bonds and following the Sustainable Bond Principles established by the International Capital Market Association (ICMA). This issuance is within BBVA Colombia's Sustainable Debt Use of Proceeds framework, which has a second-party opinion.

IDB Invest's financing is accompanied by advisory services to BBVA Colombia to develop a value proposition for small and medium-sized enterprises (SMEs) in the Amazon region. This includes the design of financial services that promote closing gaps and sustainable development through sustainable bio-businesses and a comprehensive offer of financial services for excluded or underserved populations. The advisory services include a market diagnosis, co-design of the comprehensive offer, and a pilot test.

The deal with BBVA Colombia is expected to contribute to the following United Nations Sustainable Development Goals (SDGs): Zero Hunger (SDG 2), Gender Equality (SDG 5), Affordable and Clean Energy (SDG 7), Decent Work and Economic Growth (SDG 8), Industry, Innovation, and Infrastructure (SDG 9), Sustainable Cities and Communities (SDG 11), and Partnerships for the Goals (SDG 17).

About IDB Invest

IDB Invest is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $21 billion in managed assets and 394 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that respond to its clients' needs in various sectors. Visit our website idbinvest.org.

About BBVA Colombia

BBVA in Colombia is the leading foreign investor in the Colombian financial system and the fifth largest in the country. It has a presence nationwide through more than 400 offices and service centers and 1,485 ATMs. It has 5.5 million customers and 6,000 employees, of which about 60% are women. BBVA supports families, entrepreneurs, and companies in their future plans and helps them take advantage of the opportunities provided by innovation and sustainability. For micro-entrepreneurs, the BBVA Microfinance Foundation, through Bancamía, an entity of which it is the majority shareholder, meets their financial needs throughout the country.