Company name
Banco de Comercio Exterior, S.A (Bancoldex, S.A.)
Project number
12053-02
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
Completed
Disclosed date
02/18/2020
Projected date at which a project will be put forward for the Board of Executive Directors’ approval.
Projected board date
03/18/2020
Approval date
04/06/2020
Signed date
05/13/2020
Sponsoring entity
N/A
Investment Operations Department Contact
N/A
Investment type
Syndicated amount
N/A
Financing amount
USD $ 173,099
Currency
COP
Project scope and objective
The purpose of the project is to provide access to financing to up to seven SME energy traders in Colombia.
IDB Invest will be issue a Standby Letter of Credit in favor in Bancoldex to counter guarantee the guarantees that this institution will issue in favor of XM Compañía de Expertos en Mercados, S.A. E.S.P (Electricity Market operator in Colombia) for the account of up to seven SME energy traders. These guarantees are required to be issued by virtue of the Power Purchase Agreements that the traders will sign as a result of the Complementary Mechanism to the Renewable Energy tender CLPE No. 02-2019.
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Contact information
For inquiries, comments and information requests about the project
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 OfficesFor 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.
ENVIRONMENTAL AND SOCIAL REVIEW
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