Company name
Banco Comercio Exterior de Colombia S.A. ("Bancóldex")
Project number
13100-01
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 
FI-3
Country
Colombia
Sector
Financial Institutions
Status
In implementation
Disclosed date
05/11/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
08/07/2020
Approval date
08/07/2020
Signed date
09/18/2020
Sponsoring entity
N/A
Team leader
Acuna Cubillos, Piedad Lucia
Investment type
Syndicated amount
USD $ 20,000,000
Financing amount
USD $ 100,000,000
Currency
USD
Project scope and objective
The project consists of supporting Banco de Comercio Exterior de Colombia S.A. (“Bancóldex”), with a senior loan. The total amount of the loan is up to US$170 million, composed as follows: (i) A loan from IDB Invest for an amount of up to US$100 million; (ii) US$50 million mobilized through possible co-financing to be financed by IDB Invest in its capacity as administrator of the China Co-financing Fund for Latin America and the Caribbean (the “China Fund”); and (iii) Co-loan from Development Finance Institute Canada (FinDev Canada) for an amount of up to US$20 million. The resources will be used to support MSME’s needs through the emergency line Program “Colombia Responde para Todos” or through other financial instruments created to alleviate the current COVID-19 situation.
"Colombia Responde para Todos" is an emergency line which seeks to expand financing to MSME’s from different economic sectors, through financial intermediaries. IDB Invest loan and support is key to provide liquidity and short to medium term resources to MSMEs so it’s sustainability and feasibility is ensured in a context of cash flow pressure due to the lockdown and economic activity paralysis.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region.
Contact information
For inquiries, comments and information requests about the project
Request informationAlternatively, you may also use the following contact information:
Client Contact
CONTACT NAME
N/A
POSITION
N/A
PHONE NUMBER
N/A
N/A
IDB Invest Contact
requestinformation@idbinvest.org
PHONE
+1(202)-566-4566
ADDRESS
1350 New York Ave NW, Washington, DC 20005
COUNTRY OFFICES
IDB Invest Country OfficesIndividuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing mgm@iadb.org or by calling +1 202 312 4040.
As a last resort, affected communities have access to the IDB Invest Independent Consultation and Investigation Mechanism by writing to mecanismo@iadb.org or MICI@iadb.org or calling +1(292) 623-3952.
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.
ENVIRONMENTAL AND SOCIAL REVIEW
45.5 Kb