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Company name

BANCO W S.A.

Project number

14969-01

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
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FI-3

Country

Colombia

Sector

Financial Institutions

Status

Proposed

Disclosed date

10/30/2024

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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12/04/2024

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 $ 23,192,200

Currency

COP

Project scope and objective

The operation consists of providing support to Banco W S.A. (“Banco W” or the “Bank”) through financing in Colombian Pesos (“COP”) for an amount of up to COP200 billion, with a three-year term and bullet repayment at maturity. BID  Invest may share the financing amount with other investors. The financing resources will be used to support the growth of the microenterprise portfolio, microenterprises owned by and/or led by women, and microenterprises in the Amazon region of Colombia.

Additionally, the project will be accompanied by technical advisory services defined in collaboration with Banco W.

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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 W - FINANCING - 14969-01-CO - ENVIRONMENTAL AND SOCIAL REVIEW ESRS

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

dcpacheco@bancow.com.co

PHONE NUMBER

+57-2 486-3999

POST OFFICE ADDRESS

Av.5 Norte #16N-57, Cali - Colombia

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

For inquiries, comments and information requests about the project

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Learn more about how we provide private-sector solutions in the region .