Global Bank Corporation, one of the main private banks in Panama, will receive a 5-year term loan of up to 100 million dollars to support the financing and expansion of its green portfolio.

The financing consists of 40 million dollars that will be provided by IDB Invest, up to 10 million dollars by blended financing through the support of the Canadian Climate Fund for the Private Sector of the Americas – Phase II (C2F2), and the remaining 50 million dollars by Banco Santander and additional investors.

IDB Invest will also contribute with advisory services to consolidate Global Bank’s position as Panama’s leading bank in sustainable finance, in order to expand its planning process and to accelerate the implementation of the Recommendations of the Working Group on Financial Disclosures Related to Climate Change (TCFD), considered the best practices for climate management in financial institutions.