Finanzauto SA BIC

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Finanzauto SA BIC Sustainability Actions

Financed electromobility portfolio

IDB Invest, ILX and Banco Latinoamericano de Comercio Exterior S.A. (Bladex) closed a financial package for Finanzauto S.A. BIC that will help expand its financing offer to micro, small and medium-sized companies (MSMEs) and electric vehicles in Colombia. Between 7% and 10% of the amount will be allocated to financing its electromobility portfolio.

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Closed USD 20 million climate loan

On March 31, 2023, a responsAbility Investments AG managed climate fund closed a USD 20 million senior secured loan with Finanzauto S.A. The loan will support the company’s transition to an energy efficient fleet by financing hybrid and electric vehicles, contributing to Colombia’s GHG emissions reductions in the transport sector.

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Developed green lending strategy

Together with the fund’s climate and investment teams, Finanzauto developed a green lending strategy aligned with the company’s business model focused on low CO2 emitting light-duty vehicles. The fund’s energy specialists and technical assistance facility will also support Finanzauto with finetuning its GHG accounting, promoting hybrid and EVs, and the implementation of a vehicle scrapping program.

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Expanded ESG syndicated lending

Bladex and Finanzauto closed a dual-currency syndicated loan worth US$53 million and COP 60,000 million for Finanzauto. The proceeds will support MSMEs development and ESG-focused projects in Colombia, including access to cleaner vehicles, working capital, health, and education.

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BIC name change in 2020

In 2020, Finanzauto changed its name to Finanzauto S.A. BIC to incorporate the Collective Interest Benefit (BIC) and become a strategic ally in the protection of the environment, the welfare of workers, and the improvement of living conditions of society in general.

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About Finanzauto SA BIC

  • Status
  • Unverified
  • Employees
  • 100 - 500
  • Country
  • Colombia