Company name

N/A

Project number

12114-02

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

N/A

Status

In implementation

Disclosed date

05/20/2020

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

Projected board date
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06/22/2020

Approval date

07/09/2020

Signed date

08/11/2020

Sponsoring entity

N/A

Team leader

Acuna Cubillos, Piedad Lucia

Investment type

Syndicated amount

USD $ 300,000

Financing amount

USD $ 99,546,100

Currency

COP, USD

Project scope and objective

The project consists of a subscription to a social gender issue equivalent in Colombian pesos of up to US$100 million, to be issued by a Colombian entity through an offer on Colombia’s second market. The issue will have a term of up to seven years, with a balloon payment of the principle upon maturity. The proceeds from the issue will be used to grow the entity’s portfolio of loans aimed at projects promoting gender equality in the country, in line with UNDP Sustainable Development Goal 5 on gender equality. A methodological framework will be established setting eligibility criteria and impact indicators to enable the proper selection and monitoring of projects to receive financing.



IDB Invest will provide technical assistance to obtain a second opinion confirming the suitability of the methodological framework used. IDB Invest will also help the client build a gender-based commercial strategy.



With the subscription to and structuring of Gender Social Bonds, IDB Invest seeks to help close the gaps that women face in the labor market and in securing leadership positions, as well as help provide them greater and better access to the financial system. Additionally, it aims to give the issuers incentives to become national leaders on gender issues and support the implementation of business strategies with a gender component that promote the social and economic empowerment of women.


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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.

ENVIRONMENTAL AND SOCIAL REVIEW

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Contact information

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Request information

Alternatively, you may also use the following contact information:

Client Contact

CONTACT NAME

N/A

POSITION

N/A

PHONE NUMBER

N/A

EMAIL

N/A

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