Company name

N/A

Project number

12621-01

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
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FI-2

Country

Colombia

Sector

Financial Institutions

Status

In implementation

Disclosed date

03/18/2019

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

Projected board date
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06/18/2019

Approval date

06/18/2019

Signed date

07/03/2019

Sponsoring entity

N/A

Team leader

Acuna Cubillos, Piedad Lucia

Investment type

Financing requested

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Syndicated amount

N/A

Financing amount

USD $ 199,935,000

Currency

COP

Project scope and objective

The project consists of a subscription to a sustainable bond issue for up to COP$657,000 million to be issued by a Colombian entity through an offer on Colombia’s second market (segundo mercado). The bond issue will be divided in two tranches with a term of five and ten years, with a single payment at maturity. The funds from the issue will be used to finance projects that are aligned with the UNDP Sustainable Development Goals related to environmental and social impact issues. A methodological framework will be defined that contains some eligibility criteria and impact indicators, facilitating the correct selection and monitoring of the projects to be financed.
IDB Invest will provide technical assistance to obtain a third-party opinion to validate and confirm the suitability of the methodological framework being used.

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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. Any gaps with respect to the IDB Invest Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) provided below.

ENVIRONMENTAL AND SOCIAL REVIEW

47.7 Kb

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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

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POSITION

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PHONE NUMBER

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EMAIL

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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