Banco de Comercio Exterior de Colombia S.A. (MIGA-14652)

  • Colombia
Where the impacts of the investment may be experienced.
Financial Institutions
  • Multilateral Investment Guarantee Agency (MIGA)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Bank Risk Rating
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Jun 8, 2020
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Banco de Comercio Exterior de Colombia S.A.
The holder of the loan, grant, or other investment.
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 475.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 475.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ MIGA website

Updated in EWS Jun 26, 2021

Disclosed by Bank May 20, 2020

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Project Description

This summary covers an application made by Banco de Comercio Exterior de Colombia S.A. (Bancoldex) to cover a proposed lending facility to be provided to Bancoldex by a group of lenders yet to be identified.

MIGA's coverage has been sought in relation to a Non-Honoring of Sovereign Financial Obligations by a State-Owned Enterprise (NHFO-SOE) guarantee for a US dollar debt financing structure of up to US$ 475 million with a tenor of up to 3 years.

The MIGA guaranteed loan will be used by Bancoldexto finance several of the Government initiatives aimed at providing liquidity for companies and preserving employment in response to the current COVID-19 crisis. The MIGA guaranteed loan will be used to fund programs, such as "Colombia Responde" and "Colombia Responde para Todos", among others (the Programs), which provide short-term working capital loans of up to US$1.2 million with tenors of up to 36 months to Corporates and Micro, Small and Medium Enterprises (MSMEs) through financial intermediaries.

The Project is aligned with MIGA's US$6 billion COVID-19 response package under its pillar of countering adverse economic impacts during the COVID-19 crisis by providing liquidity to the financial sector as well as with the US$14 billion World Bank Group (WBG) Fast Track COVID-19 Facility to assist member countries in addressing the current global pandemic and its impacts.

Investment Description
Financial Intermediary
Financial Intermediary: A commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.

Contact Information


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