Project detail - BANCO DAVIVIENDA SALVADOREÑO S.A.

BANCO DAVIVIENDA SALVADOREÑO S.A.

Status: Approved investment
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Disclaimer

The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.

Who is our customer

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.

What is our 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 do we fund this investment?

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.

What is the Environmental and Social categorization rationale?

E&S Category: B

Region
Latin America & The Caribbean
Country
El Salvador
Sector
Financial Institutions
Effective date
7/6/2017
Total FMO financing
USD 30.00 MLN
Funding
FMO NV
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