| Project Detail |
The project consists of providing support to Banco Bilbao Vizcaya Argentaria Colombia S.A. (“BBVA Colombia”), in the issuance of a Subordinated Sustainable Bond for a total amount of up to US$100 million in the international capital market. The term of the financing will be up to 10 years in a bullet payment, with an option for prepayment by the Issuer in the fifth year, which BBVA Colombia may exercise voluntarily upon meeting the requirements set forth in the applicable law. IDB Invest will act as anchor investor with a subscription for up to US$50 million. The resources will be used for strengthening the capital and expanding the green and social portfolio.
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 Invests 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. |
