Company name
Banco Finandina BIC S.A.
Project number
14699-01
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
Approved
Disclosed date
09/29/2023
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
11/30/2023
Approval date
11/30/2023
Signed date
12/04/2023
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 30,063,100
Currency
COP
Project scope and objective
The Project consists of a financing in Colombian Pesos (“COP”) for an amount equivalent to US$50 million. The financing will have a tenor of five years and will be amortized on its maturity day (bullet). IDB Invest shall be entitled to share the amount of the financing with other investors. The funds will be used to support the growth of the green and social portfolio of Banco Finandina BIC S.A. (“Banco Finandina”, “Finandina” or the “Bank”).
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Contact information
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Request informationAlternatively, you may also use the following contact information :
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 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.
For inquiries, comments and information requests about the project
Request informationLearn more about how we provide private-sector solutions in the region .
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.
BANCO FINANDINA FINANCING 14699-01 – COLOMBIA ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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