Banco de la Ciudad de Buenos Aires
FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Patti, Lucila Andrea
USD $ 50,000,000
Project scope and objective
The proposed project includes a financing mechanism for up to US$50 million (“Sustainable Financing Mechanism”) for Banco de la Ciudad de Buenos Aires (“Banco Ciudad”) that will allow that institution to finance subprojects with important environmental benefits in Argentina, primarily targeting the renewable energy and energy efficiency sectors, although it will also seek to support other investments intended to mitigate the effects of climate change (“Sustainable Projects”). The Sustainable Financing Mechanism will provide Ciudad with an unsecured senior loan consisting of: (i) Tranche I for up to US$25 million with a term of up to seven years; and (ii) Tranche II for up to US$25 million with a term of up to five years. Both Tranches will be directed to financing other sustainable projects that require longer amortization terms.
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Big Companies Coordinator
+54 (11) 4329-8835 * 8835
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1350 New York Ave NW, Washington, DC 20005