Company name

Banco de Occidente S.A.

Project number

13865-01

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.

E&S category
tooltip

FI-2

Country

Colombia

Sector

Financial Institutions

Status

In implementation

Disclosed date

04/13/2022

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
tooltip

08/02/2022

Approval date

08/02/2022

Signed date

08/17/2022

Sponsoring entity

N/A

Team leader

Acuna Cubillos, Piedad Lucia

Investment type

Syndicated amount

USD $ 30,000,000

Financing amount

USD $ 70,000,000

Currency

USD

Project scope and objective

The Project consists in providing support to Banco de Occidente S.A. (the “Bank” or “Banco de Occidente”) so that it may strengthen its capital through a subordinated loan for a total amount of up to US$100 million, made up as follows: (i) a subordinated loan in the amount of up to US$70 million to be financed by IDB Invest; and (ii) a parallel subordinated loan in the amount of up to US$30 million to be financed by a co-lender. The term of the financing will be up to 10 years. The loan will be used to finance Small and Medium-Sized Enterprises ("SMEs"). 

In addition, IDB Invest will provide Banco de Occidente S.A., technical advisory services to strengthen the sustainable financing strategy for its social portfolio, focused on SMEs, and the green portfolio or blue economy.

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

BANCO DE OCCIDENTE SUBORDINATED LOAN 13865-01 ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

178.5 Kb

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.

Contact information

For inquiries, comments and information requests about the project

Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

Juan Guillermo

POSITION

Assets and Liabilities Manager – ALM

PHONE NUMBER

+57 (2) 4850413

EMAIL

JMoralesC@bancodeoccidente.com.co

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

COUNTRY OFFICES

IDB Invest Country Offices

For inquiries, comments and information requests about the project

Request information

Learn more about how we provide private-sector solutions in the region.