BANCO DAVIVIENDA S.A. COSTA RICA (FMO-56554)

Countries
  • Costa Rica
Where the impacts of the investment may be experienced.
Financial Institutions
  • Netherlands Development Finance Company (FMO)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
B
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.
Borrower
Banco Davivienda (Costa Rica) S.A.
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)
$ 25.00 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)
$ 25.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ FMO website

Updated in EWS Oct 25, 2019

Disclosed by Bank Oct 3, 2019


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Project Description

According to FMO website, FMO will provide a USD 25 mln senior unsecured loan to Davivienda CR, of which the proceeds will be fully on-lent to green projects/clients in line with FMO’s Green Masterlist. This transaction is strongly aligned with SDG 13 Climate Action as the funds of this transaction will be dedicated towards funding green clients of Davivienda CR. FMO also aims to support Davivienda CR by providing Capacity Development to train its employees on identifying green opportunities.

Investment Description
  • Netherlands Development Finance Company (FMO)
Private Actors

Banco Davivienda (Costa Rica) S.A. (“Davivienda CR”) is a universal bank in Costa Rica. It is the third largest private bank with a Total Asset size of USD 2.9 bln per June-19. The Bank is part of the Colombian group Grupo Bolívar. Since 1972, Banco Davivienda has devoted efforts to enrich people's lives, supporting them in the construction of their personal equity, that of their families and their companies, as well as in the development of the business, commerce, and rural sectors, among others.

Contact Information

No contact information provided at the time of disclosure. 

ACCOUNTABILITY MECHANISM OF FMO

Communities who believe they will be negatively affected by a project funded by the Dutch Development Bank (FMO) may be able to file a complaint with the Independent Complaints Mechanism, which is the joint independent accountability mechanism of the Dutch Development Bank (FMO) and the German Investment Corporation (KfW) . A complaint can be filed in writing, by email, post, or online. The complaint can be filed in English or any other language of the complainant. The Independent Complaints Mechanism is comprised of a three-member Independent Expert Panel and it can provide either problem-solving, compliance review or both, in either order. Additional information about this accountability mechanism, including a guide and template for filing a complaint, can be found at: https://www.fmo.nl/independent-complaints-mechanism