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.
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
Investment Operations Department Contact
USD $ 199,935,000
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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