IDB Invest Promotes Green Mobility in Colombia through a Sustainable Bond

Banco Finandina, a pioneer in digital banking, certified as a B Corp and the first BIC (collective benefit and interest companies) bank in Colombia, has completed the issuance of its first sustainable bond for an amount in local currency equivalent to nearly 39.3 million dollars, in order to support green and social projects in Colombia.

IDB Invest acts as the main investor, subscribing 73% of the issuance, while the remainder was contributed by other investors from the capital market. Additionally, IDB Invest will support Finandina through advisory services that will include the design of a strategic decarbonization plan; guidance on gender, diversity and inclusion to develop an inclusive communication strategy for LGBTQ+ people; and the development of a specialized value proposition focused on productive credit for trans people.

The Bank’s green project portfolio focuses in electric and hybrid vehicles, and electric micromobility solutions (electric small and light transportation). The social portfolio supports micro, small and medium-sized enterprises (MSMEs), including MSMEs led by women and/or located in vulnerable areas.