International Finance Corporation (“IFC”) is investing in a green bond of up to US$150 million to be issued by BDO Unibank, Inc. (“BDO”). Through the investment, IFC will support BDO in raising long term funding for BDO’s lending program to qualifying green projects in the Philippines.
The total project cost is estimated at US$150 million. The proposed IFC investment consists of USD150 million USD-denominated bond to be issued by BDO. The proceeds from the bond will be used to support the Bank’s lending program to climate smart projects including renewable energy (RE), energy efficiency (EE), and green buildings.
There is often limited information publicly available about what development banks are funding through financial intermediaries. In 2021, the Early Warning System partnered with Oxfam International to incorporate information on high-risk projects being funded by financial intermediaries receiving funding from the International Finance Corporation (IFC) and the Dutch Development Bank (FMO).
The information listed below describes the relationship between the different private actors linked to high-risk sectors and subprojects of IFC and FMO's financial intermediary investments and/or the financial intermediary's parent companies made from 2017 through 2020, including any associated ring fences.
The database, however, does not explicitly or implicitly imply that IFC or FMO have material exposure to or are contractually or legally accountable to the sub-projects financed by their financial intermediaries or the financial intermediary's parent companies. It only shows a seemingly financial relationship among the different private actors, the financial intermediaries, and IFC or FMO.
BDO was incorporated in the Philippines in 1967 and is listed on the Philippines Stock Exchange. The Bank provides a wide range of banking and financial products and services, including commercial and retail banking, consumer banking, investment banking, private banking, leasing and financing. BDO is the largest bank in the Philippines in terms of asset size and equity. The major shareholder of the Bank is SM Investments Corporation (SMIC) with a 40.09% shareholding. SMIC is a listed company with major interests in property, retail and financial services. As of June 30, 2017, 44.95% of BDO are held by the public.
|Private Actor 1||Private Actor 1 Role||Private Actor 1 Sector||Relation||Private Actor 2||Private Actor 2 Role||Private Actor 2 Sector|
|Aboitiz Power Corp||Parent Company||Energy||owns||Bataan Coal-Fired Power Plant 2 (668MW)||Client||Energy|
|Ayala Corp||Parent Company||Energy||owns||Star Energy Geothermal||Client||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Aboitiz Equity Ventures Inc||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Aboitiz Power Corp||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Ayala Corp||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Ayala Corporation||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Ayala Land Inc||Parent Company||Industry and Trade|
|BDO UNIBANK||Investor||Finance||invests in||Bataan Coal-Fired Power Plant 2 (668MW)||Client||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Bloomberry Resorts Corp||Client||Industry and Trade|
|BDO UNIBANK||Investor||Finance||invests in||Bounty Fresh Food Inc||Parent Company||Agriculture and Forestry|
|BDO UNIBANK||Investor||Finance||invests in||Cavite-Laguna Expressway (47.02KM) PPP||Client||Transport|
|BDO UNIBANK||Investor||Finance||invests in||Cebu Landmasters Inc||Parent Company||Industry and Trade|
|BDO UNIBANK||Investor||Finance||invests in||Del Monte Pacific Ltd||Parent Company||Agriculture and Forestry|
|BDO UNIBANK||Investor||Finance||invests in||Entrp Investment Hldg Inc||Parent Company||Transport|
|BDO UNIBANK||Investor||Finance||invests in||First Gas Power Corp||Client||Energy|
|BDO UNIBANK||Investor||Finance||invests in||First Philippine Holdings Corp||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Lopez Inc||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Manila Water Co Inc||Parent Company||Water and Sanitation|
|BDO UNIBANK||Investor||Finance||invests in||Marlow Foods Ltd||Client||Agriculture and Forestry|
|BDO UNIBANK||Investor||Finance||invests in||Megaworld Corp||Parent Company||Industry and Trade|
|BDO UNIBANK||Investor||Finance||invests in||Metro Pacific||Parent Company||Transport|
|BDO UNIBANK||Investor||Finance||invests in||Metro Pacific Investments (MPIC)||Parent Company||Transport|
|BDO UNIBANK||Investor||Finance||invests in||Monde Nissin Corp||Parent Company||Agriculture and Forestry|
|BDO UNIBANK||Investor||Finance||invests in||MPCALA Holdings Inc||Client||Transport|
|BDO UNIBANK||Investor||Finance||invests in||NLEX-SLEX Connector Road (8KM) PPP Refinancing 2020||Client||Transport|
|BDO UNIBANK||Investor||Finance||invests in||Power Partners||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Prime Metroline Holdings Inc||Parent Company||Industry and Trade|
|BDO UNIBANK||Investor||Finance||invests in||Robinsons Land Corp||Parent Company||Construction|
|BDO UNIBANK||Investor||Finance||invests in||San Miguel Corp||Parent Company||Agriculture and Forestry|
|BDO UNIBANK||Investor||Finance||invests in||SMC Global Power Holdings Corp||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Solar Philippines Calatagan||Parent Company||Energy|
|BDO UNIBANK||Investor||Finance||invests in||Star Energy Geothermal||Client||Energy|
|Entrp Investment Hldg Inc||Parent Company||Transport||owns||MPCALA Holdings Inc||Client||Transport|
|First Philippine Holdings Corp||Parent Company||Energy||owns||First Gas Power Corp||Client||Energy|
|Lopez Inc||Parent Company||Energy||owns||First Philippine Holdings Corp||Client||Energy|
|Metro Pacific||Parent Company||Transport||owns||Cavite-Laguna Expressway (47.02KM) PPP||Client||Transport|
|Metro Pacific Investments (MPIC)||Parent Company||Transport||owns||NLEX-SLEX Connector Road (8KM) PPP Refinancing 2020||Client||Transport|
|Monde Nissin Corp||Parent Company||Agriculture and Forestry||owns||Marlow Foods Ltd||Client||Agriculture and Forestry|
|Prime Metroline Holdings Inc||Parent Company||Industry and Trade||owns||Bloomberry Resorts Corp||Client||Industry and Trade|
BDO Unibank, Inc.
Luis S. Reyes, Jr.
Senior Vice President, Investor Relations and Corporate Planning
4th Floor, South Tower, BDO Corporate Center, 7899 Makati Avenue, Makati City 0726
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/