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Banco Finandina together with IDB Invest promotes sustainability in vulnerable areas of Colombia

07/24/2024 Since 7 months

Banco Finandina, the first Colombian bank to obtain certification as a B Company, has signed an agreement with IDB Invest for the subscription of sustainable bonds to boost its green and social portfolio, for a total amount in local currency equivalent to nearly US$50 million. IDB Invest will provide 60% of the funds as lead investor, while it will help raise the remaining 40% through interested third-party investors.

The proceeds will be used to generate credit to promote green mobility, hybrid and electric vehicles, and to promote micro, medium and small enterprises (MSMEs) led by women and in vulnerable areas of Colombia, among other projects that meet the defined sustainable criteria.

In addition, IDB Invest will support Banco Finandina with advisory services related to its strategic plan for decarbonization, and in the areas of gender, diversity and inclusion.

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