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IDB Invest promotes Sustainable Finance Protocol in Argentina

IDB Invest, member of the Inter-American Development Bank (IDB) Group, is the institution that promotes a Sustainable Finance Protocol in Argentina with Fundación Vida Silvestre. This protocol was signed by 18 banks in order to begin to build a sustainable finance strategy within the country’s banking industry.

Specifically, the signatory banks of this Protocol commit themselves to work on four strategic axes: i) development of internal policies to implement sustainability strategies; ii) creation of financial products and services to support the financing of projects with positive environmental and social impact; iii) optimization of current risk analysis systems with an environmental focus; and iv) promotion of a culture of sustainability.

The group of founding banks of the Protocol is made up of Banco de la Nación Argentina, Banco Galicia, Banco Ciudad, Banco BICE, Banco Supervielle, Banco CMF, Banco Santander, Banco Provincia de Buenos Aires, BBVA, Banco Macro, HSBC Bank, Banco Patagonia, Banco Itaú, Banco Comafi, Banco Industrial, Banco Mariva, Banco de Tierra del Fuego and Banco BST.

This group of banks, whose total market share exceeds 75 percent of bank loans in Argentina, recognizes that sustainable finance has become an increasingly important factor for the financial sector and identifies the need to incorporate policies, processes, practices and sustainability standards, both in the financing of activities and in investments, as well as in the interior of the entities. ABA, ABAPPRA and ADEBA joined the Protocol as Witnesses of Honor.

About IDB Invest
IDB Invest, a member of the Inter-American Development Bank (IDB) Group, 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 enterprises and projects to achieve financial results that maximize economic, social and environmental development for the region. With a portfolio of assets of $12.1 billion under management and 329 clients in 21 countries, IDB Invest works across sectors to provide innovative financial solutions and advisory services that meet the needs of its clients

About Fundación Vida Silvestre

Fundación Vida Silvestre Argentina is a nongovernmental, public good and non-profit organization, created in 1977. Its mission is to propose and implement solutions to conserve nature, promote the sustainable use of natural resources and responsible behavior in a climate change context. Since 1988, Fundación Vida Libre has been associated with WWF, one of the largest independent conservation organizations in the world, present in 100 countries, and represents it in Argentina.