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Press release
January 12, 2021
small-holder coffee farmer in Colombia

Summary of Anticipated Development Impacts


  • Providing access to finance to Colombian SMEs: while Colombia’s SMEs comprise 90% of the country’s companies (~2.5M), generate 65% of the jobs and contribute to 30% of the country’s GDP, gaining access to finance remains a challenge. By channeling funds to SMEs, this investment will contribute to the economic recovery of the country by ensuring the long-term sustainability of the SME ecosystem in Colombia, safeguarding jobs, incomes and communities. This transaction is part of FinDev Canada’s COVID-19 response to support liquidity for financial institutions in FinDev Canada’s target markets.
  • Providing home ownership opportunities to low-income customers: in a country where 37% of the households are homeowners and 40% of the housing market is social housing, there is an unmet demand for these mortgage loans by the private sector. As the largest player in this submarket (25% of the market share), Davivienda is instrumental in enabling low-income individuals become homeowners.

Women's economic empowerment

30% of the funds provided by FinDev Canada will be channeled to women-owned SMEs and low-income women homebuyers, who have been disproportionately affected by the pandemic.


  • Responding to the financial needs of women entrepreneurs and low-income women homebuyers: considering that 40% of the SMEs in Colombia are women owned, Davivienda will specifically direct 30% of our funds to women-owned SMEs and to low-income women homebuyers. This will support women customers to access financing products that better meet their financial needs.
  • Supporting women’s leadership in financial services: accounting for 33% of senior managers and 62% of the employees, women are well represented at Davivienda. Indeed, this transaction qualifies for the 2X Challenge based on women’s high representation at the leadership level.
  • Bringing inclusive access to financial products and services to women customers: committed to better serving women customers, Davivienda joined the Financial Alliance for Women in June 2020, becoming the first financial institution in Colombia to do so. The bank is also adapting its strategy to be more woman-centered and increase access to finance and empowerment tools for women entrepreneurs.