BCB GreenBondDCM (IFC-38731)

Regions
  • Latin America and Caribbean
Where the impacts of the investment may be experienced.
Countries
  • Colombia
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
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
Nov 10, 2016
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.
Borrower
BANCOLOMBIA SA
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 117.12 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 117.12 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)
$ 117.12 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 @ IFC website

Updated in EWS Jul 15, 2018

Disclosed by Bank Dec 14, 2016


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Project Description

According to IFC website, the project entails a Green Bond to be issued by Bancolombia S.A. in the Colombian local bond market which will be subscribed by IFC. The green bond proceeds will be used for renewable energy and green building projects in Colombia. Further, this project will be supportive of the Country's climate change goals of reducing GHG in 20% by 2030. The project entails as well the first Green Bond issuance in Colombia and so would potentially support the creation of a Green Bond market in the country.

Investment Description
  • International Finance Corporation (IFC)
Private Actors

Bancolombia is the largest bank in Colombia with a 22.4% market share as of June 2016. The Bank owns banking operations in Panama (Banistmo, 2nd largest bank), El Salvador (Banagricola, largest bank) and Guatemala (BAM, 4th largest bank).

Bancolombia is listed in the Colombian Stock Exchange and the New York Stock Exchange.

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/