China Co-Financing Fund for Latin America and the Caribbean loan provides $15 million loan to Davivienda for ‘green’ on-lending activities in El Salvador (Linked to Project ID#86526)

On December 23, 2020, the China Co-Financing Fund for Latin America and the Caribbean signed a $15 million loan agreement with Banco Davivienda S.A. (Davivienda) — a private regional bank that operates in six countries (Colombia, Panama, Costa Rica, El Salvador, Honduras, and the United States) — to support the development of Davivienda’s portfolio of financing for environmentally friendly projects (‘green loans’) in El Salvador. Additionally, the loan is intended to aid Banco Davivienda in their development projects and obstacles caused by the Covid-19 economic crisis. The borrowing terms of the loan are unknown. The loan from the China Co-Financing Fund for Latin America and the Caribbean was secured alongside a $35 million loan from the Inter-American Investment Corporation (IDB Invest) and $50 million mobilized through co-financiers or ‘B’ lenders.

Additional details

1. The China Co-Financing Fund for Latin America and the Caribbean was established on January 14, 2013 with a contribution of $2 billion by the People's Bank of China. It is administered by the IDB. For more information, see umbrella Project ID#86526. 2. The IDB Invest project identification number is 11860-02 or IDBI-11860-02.

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