Company name
Capital Markets
Project number
13166-01
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
08/26/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
09/28/2020
Approval date
09/29/2020
Signed date
10/23/2020
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 38,735,700
Currency
COP
Project scope and objective
The project consists of a subscription of a social bond with a focus on gender for up to the equivalent in Colombian pesos to US$40 million, to be issued by a Colombian entity through an offer on Colombia’s Second Market. The issue will be divided into two series: (i) Series A, for the equivalent in Colombian pesos of up to US$ 20 million, which will be committed, and will have a term of up to 3 years with a bullet payment; and (ii) Series B, for the equivalent in Colombian pesos of up to US $ 20 million, which will be uncommitted and will have a term of up to 5 years.
The proceeds from the issue will be used to grow the entity’s portfolio of loans aimed at women-led micro enterprises projects promoting gender equality in the country, in line with UNDP Sustainable Development Goal 5 on gender equality. A methodological framework will be developed setting eligibility criteria and reporting indicators to enable the proper selection and monitoring of projects to receive financing.
IDB Invest will provide technical assistance to obtain a second party opinion confirming the suitability of the methodological framework. IDB Invest will also help the client build a gender-based commercial strategy.
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Contact information
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Client Contact
N/A
PHONE NUMBER
N/A
POST OFFICE ADDRESS
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 OfficesFor inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .