/ Vigeo Eiris provides Second Party Opinion on Colombia’s first Gender-focused Social Bond issued by Banco Davivienda and subscribed by IDB Invest
Company & Organisation News - 26/08/2020
Vigeo Eiris provides Second Party Opinion on Colombia’s first Gender-focused Social Bond issued by Banco Davivienda and subscribed by IDB Invest
The COP $362.5 million (as of today, about USD 100 million) intended Bond, closed in August 2020, will finance social credits for women. It is the first gender-focused social bond in Colombia and South America. The Eligible Credits will be focused on social housing mortgages for women and female-owned SMEs in Colombia. IDB Invest acted as the structurer and investor for this operation.
Vigeo Eiris has assigned a Second Party Opinion (SPO) on the sustainability credentials and management of the Bond intended by Banco Davivienda. V.E is of the opinion that this Bond is aligned with the four core components of the Social Bond Principles (2020) and expressed an advanced performance on the contribution of this Bond to sustainable development.
Vigeo Eiris has produced more than 260 second-party opinions on sustainable financing operations in Europe, Africa, Americas and Asia. We were the 3rd biggest SPO provider in the market by number of deals in 2019 and are Climate Bonds Standard Approved Verifier.
Banco Davivienda is a bank that provides financial services and products to corporate and retail segments in Colombia, Panamá, Costa Rica, Honduras, El Salvador, and the USA. The bank was founded in 1972 and is part of Grupo Empresarial Bolívar.
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social and environmental development in the region