Colombian Banco W Issued $40mn “Social Bond,” Funded by IDB Invest to Promote Gender Equity in Colombia via Microfinance

IDB Invest, a member of the US-based Inter-American Development Bank, recently subscribed to a four-year bond of $39.6 million to be issued by Banco W, a Colombian credit institution. The funds are slated to reach 25,000 female-led microenterprises and support the “development of the capital markets and thematic bonds in Colombia.” The bond is registered with the Colombian Stock Exchange, and IDB Invest describes it as “social” based on its support for the UN Sustainable Development Goal: Decent Work and Economic Growth; Gender Equality; Industry, Innovation and Infrastructure; and No Poverty.

Source: Microcapital