GLOBAL CLIMATE PARTNERSHIP FUND SA
Status: Completed investmentWhy disclosure?
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In case of questions, please contact us at disclosure@fmo.nl
Disclaimer
The information as disclosed is indicative and provided on an "as-is/as available" basis for general informational purposes only and should not be construed as financial, legal or investment advice, nor as a commitment or an offer to arrange or provide any financing. The final decision to provide financing is subject to the terms and conditions of FMO in its sole and absolute discretion. When providing links to other sites, FMO bears no responsibility for the accuracy, legality or content of the external site or for that of subsequent links. The information on proposed investment for high-risk investments is made available in the language relevant to the country or region where the bulk of operations take place. Translations of any information into languages other than English are intended as a convenience for local stakeholders. In case of any discrepancy, the information provided in English will prevail.
Who is our customer
Banco Davivienda Salvadoreno is the second largest bank in El Salvador (TA: 2.3bn) and is part of Grupo Davivienda, a Colombian financial group. The bank provides retail as well as commercial banking products and services. 100% of the USD 60mln syndicated facility that FMO provided is to be used for 'green' financing projects. The majority of the funds will be allocated to renewable energy projects (solar, wind, hydro, biomass). In addition, funds can be used to finance energy efficiency projects, i.e. through building upgrades, replacements of equipment, lighting etc. Contracting will be via Responsibility, fund manager of GCPF, and in the lead in the TA project.
What is our funding objective?
The aim of this project is twofold: to enhance E&S risk management (assessment, monitoring and mitigation) and technical support in assessing renewable energy and energy efficiency projects.
Why do we fund this investment?
With this project we contribute to lower CO2 emissions, cleaner energy and energy savings by enabling Davividenda to lend to green projects in a more systematic and rigorous manner through 1. Classroom based training, 2. Accompanying senior consultants to the field to understand how projects are assessed and reviewed and 3. Transfer of knowledge and tools to support the capacity building of the relevant bank teams.
More investments
| Date | Total FMO financing |
|---|---|
| 1/29/2015 | USD 20.20 MLN |
| 1/29/2015 | USD 20.20 MLN |
- Website customer/investment
- http://gcpf.lu
- Region
- Latin America & The Caribbean
- Country
- El Salvador
- Sector
- Infrastructure, Manufacturing and Services
- Effective date
- 6/21/2018
- End date
- 7/23/2019
- Total FMO financing
- EUR 0.05 MLN
- Funding
- FMO NV
-
Risk categorization on environmental and social impacts, A = high risk, B+ = medium high risk, B = medium risk, C = low risk
Environmental & Social Category
(A, B+, B or C) - B