Company name
Banco Unión S.A.
Project number
15651-01
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
Proposed
Disclosed date
N/A
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/30/2026
Approval date
N/A
Signed date
N/A
Sponsoring entity
N/A
Investment Operations Department Contact
Financial Institutions Division
Investment type
Syndicated amount
N/A
Financing amount
USD $ 10,811,300
Currency
COP
Project scope and objective
The project consists of providing support to Banco Unión S.A. (“Banco Unión” or the “Bank”) in strengthening its capital through a subordinated loan for an amount of up to 40 billion, denominated in Colombian Pesos (“COP”). This IDB Invest loan comprises: (i) a committed tranche of up to COP20 billion; and (ii) an uncommitted tranche of up to COP20 billion. The financing will have a tenor of up to ten years, with an option for full prepayment in the fifth year, to be exercised voluntarily by Banco Unión, upon meeting the requirements set forth in the applicable law. The proceeds will be used to support the financing of Banco Unión’s credit portfolio focused on the silver economy in Colombia.
Additionally, the project will be accompanied by technical advisory services aimed at strengthening Banco Unión’s value proposition for the silver economy segment of its credit portfolio.
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Contact information
For information requests about the project.
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Client Contact
PHONE NUMBER
+57 (2) 489 5555
POST OFFICE ADDRESS
Calle 4 # 27 -52, Cali - Colombia
Information not available on IDB Invest website may be requested by mailing to 1350 New York Ave NW, Washington, DC 20577, by e-mailing [email protected] or by calling +1(202)-566-4566.
Individuals or communities can submit complaints and concerns related to environmental, social, or corporate governance issues to the Management Grievance Mechanism by e-mailing [email protected] 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 [email protected] or [email protected] or calling +1(202) 623-3952.
IDB Invest has zero tolerance to reprisal or retaliation against anybody who voices its opinion or opposition to IDB Invest-financed projects.
For 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 UNION - SUBORDINATED LOAN - 15651-01-CO - ENVIRONMENTAL AND SOCIAL REVIEW ESRS
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