The USD $15 million intended Bond, governed by BBVA’s Sustainability Framework, closed in February 2021, will finance green and social credits. The Eligible Credits will be focused on energy efficiency projects, green buildings, clean transportation, sustainable agriculture and forestry and financing of SME and microfinance, with a focus on women, youth and companies affected by COVID-19. IDB Invest is the arranging bank for this operation.
V.E assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the Framework intended by Banco BBVA Uruguay. V.E is of the opinion that this Bond is aligned with the four core components of the Green Bond Principles (2018) and Social Bond Principles (2020) and expressed an advanced performance on the contribution of this Bond to sustainable development.
Banco BBVA Uruguay is a bank that provides financial services and products to corporate and retail segments in Uruguay. The Bank started its operations in Uruguay in 2000.
V.E has produced more than 300 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We are a Climate Bonds Standard Approved Verifier.
Contact us for more information on this SPO and V.E’s Sustainable Finance solutions
Head of Sustainable Finance Services