Original disclosure @ IFC website
Updated in EWS Oct 29, 2021
Disclosed by Bank Oct 20, 2021
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IFC's long-term financing is expected to jump-start an underdeveloped green building finance market by incentivizing supply and demand. Furthermore, the transaction will alleviate the impact of climate change from buildings by strengthening the Banks' ability to structure green building financing following international best practices.
Beyond the project-level impact, IFC anticipates that the project will promote competitiveness in the financial and real estate markets. In addition, given the relatively underdeveloped state of the climate finance market in Peru, IFC's engagement will build capacity and set standards, using tools to assess eligibility and track environmental impact.
BBVA Peru is Peru’s second-largest bank with a market share of 19.8% by asset size and more than 69 years of track record in the local banking industry. The Bank offers a wide range of financial services to retail, SMEs and corporate clients. BBVA Peru is headquartered in Lima, Peru. The Bank operates at a national level and serves more than 6.4 million clients through a network of 311 branches.
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