Montreal (Quebec), 23 September 2026 – Canada’s bilateral development finance institution, FinDev Canada, announces the signing of a USD 60 million loan to Banco Davivienda S.A. (“Davivienda”), the second-largest bank in Colombia. This represents FinDev Canada’s second investment in Davivienda.
FinDev Canada’s investment is part of a USD 140 million syndicated facility led by IDB Invest. The investment will support Davivienda in increasing access to financing for climate change mitigation and adaptation activities, women-owned or led micro, small and medium-sized enterprises (WMSMEs), and low-income housing for women.
Colombia is recognized for its rich biodiversity and natural resources. However, the country experiences the highest recurrence of extreme weather events in South America, including floods, landslides, droughts, and cyclones. The country has set a target of a 51% reduction in emissions by 2030. It is estimated that achieving national resilience and carbon neutrality will require a total of USD 92 billion in additional investment.
In alignment with national commitments, Davivienda embedded decarbonization targets, climate risk management, and low carbon transition financing into its core strategy, with a dedicated loan portfolio supporting climate mitigation activities. To operationalize this commitment, 50% of the loan proceeds will be allocated to climate-related activities, specifically targeting three high-impact sectors, such as certified green building projects, sustainable agriculture initiatives, and photovoltaic solar energy projects.
Women-owned and led small and medium-sized enterprises (WSMEs) in Colombia continue to face persistent financing barriers. Although women lead 42% of registered businesses in the country, they are concentrated in lower-profit sectors, experience slower asset growth, and face greater challenges in accessing financing than male-led businesses. Lower incomes and participation in formal employment further limit women’s access to capital and economic opportunities. To support women’s economic empowerment, FinDev Canada will direct 30% of the loan proceeds to WSMEs and 20% towards low-income housing for women. Additionally, the investment is aligned with the 2X Criteria, a global standard for evaluating and structuring investments that promote economic opportunities for women, both through access to finance and their participation in the labor market and leadership positions.
This commitment supports Canada's development and climate finance priorities of strengthening low-carbon development and accelerating the transition to more sustainable economies.
“Colombia has set ambitious climate and development goals, and financial institutions like Davivienda play a critical role in turning those ambitions into action. Through this second transaction, FinDev Canada is deepening its partnership with Davivienda to expand access to climate finance, support women-owned businesses, and advance private sector-led development in emerging markets,” said Lori Kerr, CEO, FinDev Canada.
"This alliance with FinDev Canada allows us to continue mobilizing resources toward initiatives that generate a positive impact on people's lives, strengthen the role of women in the economy, and accelerate the transition to a low-carbon, resilient economy,” said Javier Suarez, President of Banco Davivienda.
This milestone transaction marks another step forward in mobilizing private capital toward an inclusive, resilient, and low-carbon future for the region.
About FinDev Canada
FinDev Canada is a development finance institution that invests in emerging markets to deliver development impact, financial returns, and shared economic prosperity. We provide debt, equity, blended finance, technical assistance, and advisory across infrastructure, agribusiness, and the financial industry in developing economies to support development through the private sector. Find out more about FinDev Canada at www.findevcanada.ca.
About Banco Davivienda
Banco Davivienda is a Colombian bank that started operations in 1972 as a Savings and Loans Corporation. Today, after 53 years of experience in the market, the Bank continues working towards building a financial world that makes life easier for people, communities, businesses, and cities. The Bank currently relies on a team of more than 19.1 thousand people across Colombia, Panama, Costa Rica, Honduras, El Salvador and Miami, who strive to deliver everyday solutions to around 26.7 million customers, enabling greater financial inclusion and sustainable development. Davivienda is currently the second-largest bank by assets, loan portfolio and deposits in Colombia*, equipped with a network of over 678 branches and more than 3,000 ATMs. Davivienda is a company of Grupo Bolívar. *SFC. Website: ir.davivienda.com
Media Contact
FinDev Canada: Media@findevcanada.ca