BBVA Peru Green (IFC-44606)

Countries
  • Peru
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Active
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
FI
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 1, 2021
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
BANCO BBVA PERU SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Loan Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ IFC website

Updated in EWS May 28, 2024

Disclosed by Bank Oct 20, 2021

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
<div class="esrs-name">According to othe IFC, the proposed investment consists of an unsecured senior loan of up to US$70 million to BBVA Peru (the Bank), a subsidiary of the Spanish banking group BBVA (the Group). The purpose of the proposed investment is to support the Bank&rsquo;s efforts to jump-start and strengthen the green building finance market in Peru.The project will involve an Advisory Services component to support the Bank in identifying green building business opportunities for its housing lending portfolio.</div>
People Affected By This Project
People Affected By This Project refers to the communities of people likely to be affected positively or negatively by a project.

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.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

According to the IFC, the proposed Project consists of a senior loan up to PEN equivalent of up to US$60 million, with a 6-year bullet repayment, to support the growth of the Bank’s green building portfolio.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

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. BBVA Peru (the Bank), a subsidiary of the Spanish banking group BBVA (the Group).


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

ACCESS TO INFORMATION

You can submit a request for information disclosure at: https://disclosures.ifc.org/#/inquiries

If you believe that your request for information from IFC has been unreasonably denied, or that this Policy has been interpreted incorrectly, you can submit a complaint at the link above to IFC's Access to Information Policy Advisor, who reports directly to IFC's Executive Vice President.

ACCOUNTABILITY MECHANISM OF IFC/MIGA

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

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How it works