PROJECT

Projects

Summary of Investment Information

Project Number

49945

Company Name

BANCO BILBAO VIZCAYA ARGENTARIA COLOMBIA S A

Date SPI Disclosed

Jun 4, 2024

Country

Colombia

Region

Latin America and the Caribbean

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Jul 13, 2024

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Jun 26, 2024
Signed : Jun 27, 2024
Invested : Jul 11, 2024

Sector

Commercial Banking - General

Project Description

The proposed project consists of a biodiversity bond to be issued by Banco Bilbao Vizcaya Argentaria Colombia S.A. (“BBVA Colombia” or the “Bank”) and subscribed by IFC. The proceeds of the bond will be used to finance businesses and projects that prevent losses in biodiversity and/or protect nature comprising activities related to productive land uses for climate-smart agriculture, sustainable freshwater/marine production, waste and plastic management, eco-tourism, forestry and plantations, land use conservation and marine habitat conservation.    

Associated Advisory Engagement

The project will involve an Advisory Services component to support the Bank in identifying biodiversity business opportunities.                                                  

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation