The proposed project entails an A Loan of up to US$150 million to support the growth of the (i) low and middle-income housing and (ii) Small and Medium-Sized Enterprises (“SMEs”) loan portfolios of Banco Bilbao Vizcaya Argentaria Colombia (“BBVA Colombia” or the “Bank”), a full subsidiary of Banco Bilbao Vizcaya Argentaria (“BBVA”).

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.

An extended list of private actors is available in a separate file. 

BBVA Colombia ranks as the 4th largest bank in Colombia by gross loans, holding a 10% market share as of September 30, 2017. BBVA Colombia is a universal bank, offering a broad range of products and services and attending all segments: from consumer and SMEs to corporates and investment banking. The Bank operates in Colombia through a network of 527 branches, 1,339 ATMS, 4,755 banking agents and 6,097 employees.

BBVA is a global financial services group founded in 1857 and engaged in retail banking, wholesale banking, asset management, and private banking. Its diversified business is focused on high-growth markets (including Mexico, Peru, and Colombia), and it relies on technology as a key sustainable competitive advantage. BBVA reports approximately EUR 690 billion in total assets and 72 million customers, through a network of 8,271 branches, as of December 31, 2017.

BBVA currently holds a direct 95.5% equity stake in BBVA Colombia.                                

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/