The proposed investment consists of a six-year, senior unsecured loan of up to US$400 million to Banco BBVA Perú (the Bank), a subsidiary of the Spanish banking group BBVA (the Group). The main purpose of the proposed investment is to expand the Bank’s green building loan portfolio in Perú.
The project will also involve advisory services to provide technical support to real estate developers in the Bank’s green building loan program on EDGE and LEED certifications for residential units and other sectors (e.g., industrial, commercial, etc.) IFC will also support the Bank’s staff with knowledge and technical assistance to strengthen its green building and mortgage value added proposition for its business and retail clients as well as setting robust methodologies for the monitoring and reporting of its green building portfolio. Furthermore, IFC will provide advisory on environmental, social, and governance (ESG) issues to the Bank.
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