Project detail - BANCO DAVIVIENDA SALVADOREÑO S.A.

BANCO DAVIVIENDA SALVADOREÑO S.A.

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Who is our client

Banco Davivienda Salvadoreno is the second largest bank in El Salvador (TA: 2.3bn) and is part of Grupo Davivienda, a Colombian financial group. The bank provides retail as well as commercial banking products and services.

Funding objective

100% of the USD 60mln syndicated facility will be used for 'green' financing projects. The majority of the funds will be allocated to renewable energy projects (solar, wind, hydro, biomass). In addition, funds can be used to finance energy efficiency projects, i.e. through building upgrades, replacements of equipment, lighting etc.

Why we fund this project

With this transaction we contribute to lower CO2 emissions, cleaner energy and energy savings. In addition, we are catalyzing USD 30mln from the Global Climate Partnership Fund, the B-lender in this facility. Last but not least, we are deepening our relationship with Banco Davivienda, with the aim of building a regional partnership for sustainable finance in Central America.

Environmental and social rationale

E&S Category: B

Region
Latin America & The Caribbean
Country
El Salvador
Sector
Financial Institutions
Signing date
7/6/2017
Total FMO financing
USD 30.00 MLN
Fund
FMO
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk Environmental & Social Category
(A, B+, B or C)
B