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Company name

SURA

Project number

13760-01

FI-2 operations are those where the risk potential is considered medium: the FI’s current or future portfolio consists of or is expected to consist of, business activities that have potential limited adverse environmental or social risks or impacts that are few in number, generally site-specific, largely reversible, and readily addressed through mitigation measures; or includes a very limited number of business activities with potential adverse environmental or social risks or impacts that are diverse, irreversible, or unprecedented.

E&S category
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FI-2

Country

Colombia

Sector

Financial Institutions

Status

In implementation

Disclosed date

10/21/2022

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

Projected board date
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05/16/2023

Approval date

05/16/2023

Signed date

08/04/2023

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 25,000,000

Currency

COP

Project scope and objective

The transaction consists of an investment of up to US$25 million in COP in FCP SURA Corporate Private Debt - Corporate Private Debt Compartment (the "SURA Fund"), which consists of a private credit fund that will provide financing to Small and Medium-sized Enterprises ("SMEs") and Middle Market Enterprises ("MMEs") classified as Entrepreneurial and Large Companies in Colombia.

Through this transaction, IDB Invest will support the nascent private debt fund segment in Colombia, a new asset class promoted in an effort to expand financing options complementary to traditional banking and thereby support economic reactivation.

IDB Invest's investment will assist the SURA Fund in achieving its target size. It will also serve as a reference to attract additional investors.

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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.

SURA CORPORATE PRIVATE DEBT FUND - 13760-01- ENVIRONMENTAL AND SOCIAL REVIEW SUMMARY (ESRS)

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

juan.botero@sura-im.com

PHONE NUMBER

(+57) 310 348-6565

POST OFFICE ADDRESS

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

Request information

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