Project detail - Banco Aliado S.A.

Who is our prospective customer?

Banco Aliado S.A. (“Aliado”) is a universal private bank based in Panama, primarily serving corporate and small and medium-sized enterprises (SMEs) clients. The bank’s core sectors include real estate, commerce, financial services, and construction. As of fiscal year end 2025, Aliado reported total assets of USD 4.2 billion and a gross loan portfolio of USD 2.4 billion.

What is our funding objective?

FMO proposes a USD 50 million senior unsecured loan, structured into a USD 25 million committed tranche and a USD 25 million uncommitted tranche. Fifty percent of FMO’s financing will be allocated to green loans, supporting the design and rollout of sustainable finance products and services. The remaining fifty percent will support Aliado’s broader SME lending, further improving access to finance for a key driver of Panama’s economy.

Why do we want to fund this investment?

FMO’s investment aims to support activities that contribute to climate action in Panama, contributing to SDG 13, in line with FMO’ s methodology to determine the green finance attribution, while supporting Aliado’s ongoing efforts to embed sustainable finance into its core business strategy. Furthermore, SMEs are fundamental to Panama’s economic growth, playing a central role in job creation and contributing significantly to GDP. Through this transaction, FMO will help strengthen the SME sector and promote inclusive economic development contributing to SDG 8.

What is the Environmental and Social categorization rationale?

Banco Aliado has been categorized as Category FI-A client, in accordance with FMO’s Sustainability Policy, due to its exposure in the corporate segment to sectors with potentially significant adverse Environmental and Social (E&S) risks, such as energy, real estate, agribusiness and construction. The Bank has a functioning Environmental & Social Management System (ESMS), with a fully dedicated E&S specialist responsible for integrating E&S analysis into the credit decision-making process. An Environmental & Social Action Plan (ESAP) will be agreed to further enhance the FI’s E&S policy and procedures, which include application of the European Development Finance Institutions (EDFI) Exclusion List, Panamanian national E&S laws and regulations, and the IFC Performance Standards (PS) Framework for the identified Triggered Transactions.