BANCO DAVIVIENDA SALVADOREÑO S.A.
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.
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
- Latin America & The Caribbean
- El Salvador
- Financial Institutions
- Signing date
- Total FMO financing
- USD 30.00 MLN
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)