Banco BAC San Jose S.A.
Status: Completed investmentWhy disclosure?
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In case of questions
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 BAC San Jose S.A. (BAC SJ) is the largest privately owned bank in Costa Rica and is part of the Central American BAC Credomatic Group, owned by the Colombian Grupo Aval conglomerate. BAC SJ is a long-standing client of FMO and considered as a strategic partner for innovation in the Central American region.
What is our funding objective?
The USD 20 million senior term facility is a Green Line which BAC SJ will use to on-lend to green projects in line with FMO's green lending criteria, focused on renewable energy and energy efficiency. Such projects include the financing of i.e. installation of solar panels at households or businesses, construction of 'green' buildings (EDGE certified) and replacement of inefficient agricultural equipment.
Why do we fund this investment?
This Green Line supports the development of green financial products in Costa Rica which contributes to FMO's strategic goal to halve its footprint by reducing GHG emissions.
More investments
| Date | Total FMO financing |
|---|---|
| 12/19/2019 | USD 30.00 MLN |
| 4/13/2017 | EUR 0.08 MLN |
- Region
- Latin America & The Caribbean
- Country
- Costa Rica
- Sector
- Financial Institutions
- Effective date
- 6/13/2016
- End date
- 4/4/2023
- Total FMO financing
- USD 5.00 MLN
- Funding
- FMO NV
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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