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The proposed project consists of a biodiversity bond to be issued by Banco Bilbao Vizcaya Argentaria Colombia S.A. (“BBVA Colombia” or the “Bank”) and subscribed by IFC. The proceeds of the bond will be used to finance businesses and projects that prevent losses in biodiversity and/or protect nature comprising activities related to productive land uses for climate-smart agriculture, sustainable freshwater/marine production, waste and plastic management, eco-tourism, forestry and plantations, land use conservation and marine habitat conservation.
According to the IFC, the proposed project consists of an IFC investment of up to US$50 million to subscribe BBVA Colombia’s biodiversity bond issuance. IFC will mobilize up to US$25 million from other international investors.
According to the IDB, BBVA Colombia is a systemic financial institution (FI), being the 4th largest bank in Colombia and the largest foreign player with market shares of 10.96% and 11.54% in terms of gross loans and customer deposits, respectively, as of March 2024. The Bank has US$26.3 billion in total assets and a capital base of US$1.5 billion, with ample presence in the country through a network of 508 branches, 1,485 ATMs, more than 47,000 banking agents, 5,316 employees, and over 2.9 million clients. The Bank is a subsidiary of Banco Bilbao Vizcaya Argentaria S.A (“BBVA Group” or the “Group”), one of the largest financial groups worldwide with over 160 years of experience. As of March 2024, BBVA Group serves over 74.1 million clients in more than 25 countries, through 5,912 branches, 30,432 ATMs, and more than 121,000 employees. The Group’s reported total consolidated assets amounted to US$869 billion, with a capital base of US$60.4 billion
Banco Bilbao Vizcaya Argentaria Colombia S.A
David Pacheco
Director de Sostenibilidad
(+57) 3106189288
carlosdavid.pacheco@bbva.com
Carrera 9 # 72-21 Piso 8 - Bogotá Colombia
https://www.bbva.com.co/
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