BBVA allocates more than $150 million to Colombia’s biodiversity
In 2024, BBVA set itself the goal of becoming the leading financial partner for projects that protect and restore Colombia’s biodiversity. That goal is already being achieved: the bank has now allocated more than $150 million. Companies across different sectors—including agriculture and the circular economy—are seeking this financing to support the country’s sustainable development.
Mario Pardo, CEO of BBVA in Colombia, says that “Once again, BBVA in Colombia is showing its commitment to sustainability in the country. Protecting biodiversity isn’t just an ethical responsibility—it’s also a smart financial strategy. A healthy ecosystem underpins key industries such as sustainable agriculture, ecotourism, and the circular economy, creating long-term value for communities.”
BBVA has made a broad set of financial tools available to businesses. The first step was issuing the world’s first biodiversity bond—and the first in Colombia—totaling $70 million, with IDB Invest and IFC, a member of the World Bank Group, each providing half of the funding. And within just six months, the entire amount had already reached the companies it was designed to support.
The next milestone came through a partnership with CAF, the development bank for Latin America and the Caribbean, which approved a $50 million credit line to finance biodiversity-preservation initiatives. By January 2025, $10.5 million had already been disbursed.
The third step is issuing a second tranche of the biodiversity bond. “I’m proud to announce that IFC has once again placed its trust in us and in the people of Colombia. We’ll be issuing an additional $45 million to support more companies and projects that strengthen national ecosystems and protect biodiversity,” Pardo said.