PROJECT

Projects

Summary of Investment Information

Project Number

50187

Company Name

BANCO DAVIVIENDA S A

Date SPI Disclosed

Oct 29, 2024

Country

Colombia

Region

Latin America and the Caribbean

Projected Board Date

Oct 17, 2024

Environmental Category

FI-2 - Limited

Status

Active

Last Updated Date

Apr 26, 2025

Department

Regional Industry FIG LAC & EUR

Industry

Financial Markets

Previous Events

Approved : Oct 17, 2024
Signed : Oct 28, 2024
Invested : Apr 24, 2025

Sector

Commercial Banking - General

Project Description

The proposed investment consists of an investment of up to US$50 million equivalent in Colombian pesos (COP) in a biodiversity bond issuance by Banco Davivienda S.A (Davivienda or the Bank). The Colombian peso-denominated bond will be privately placed, and Davivienda will use the proceeds to finance projects for conserving, protecting, and restoring biodiversity and nature. In line with the IFC’s Biodiversity Finance Reference Guide, and Colombia's Green Taxonomy, the projects that can be financed with the proceeds of the biodiversity bond include business activities related to the use of recycled material, climate-smart and regenerative agriculture, reforestation, companies with sustainable seals that certify their good environmental practices and include biodiversity considerations, sustainable freshwater and marine production, among others. 

Associated Advisory Engagement

IFC will provide advisory services to Davivienda to further develop its biodiversity framework, and build its capacity to identify, finance, and monitor biodiversity projects; and policy, sector, institutional, or regulatory changes.

Sponsor / Cost / Location

Development Impact

E&S Category Rationale / Risks and Mitigation