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Company name

Banco Finandina BIC S.A.

Project number

14699-01

FI-3 operations are those where the risk potential is considered low: the FI’s current or future portfolio consists of financial exposure to business activities that predominantly have minimal or no adverse environmental and social impacts.

E&S category
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FI-3

Country

Colombia

Sector

Financial Institutions

Status

Approved

Disclosed date

09/29/2023

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

Projected board date
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11/30/2023

Approval date

11/30/2023

Signed date

12/04/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 30,063,100

Currency

COP

Project scope and objective

The Project consists of a financing in Colombian Pesos (“COP”) for an amount equivalent to US$50 million. The financing will have a tenor of five years and will be amortized on its maturity day (bullet). IDB Invest shall be entitled to share the amount of the financing with other investors. The funds will be used to support the growth of the green and social portfolio of Banco Finandina BIC S.A. (“Banco Finandina”, “Finandina” or the “Bank”).

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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 FINANDINA FINANCING 14699-01 – COLOMBIA ENVIRONMENTAL AND SOCIAL REVIEW ESRS

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

hernan.navas@bancofinandina.com

PHONE NUMBER

+6016511919 Ext: 1801

POST OFFICE ADDRESS

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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