Banco Galicia Green Financing Partnership

inactive

The Project consists in a financing facility for up to US$100 million (“Green Financing Partnership”) for Banco de Galicia y Buenos Aires S.A. (“Galicia”) that will allow Galicia to finance sub-projects with high environmental benefits in Argentina; primarily in the areas of renewable energy and energy efficiency, and will also support other carbon mitigating investments (“Sustainable Projects”). The Green Financing Partnership will support the development and growth of Sustainable Projects in small and medium enterprises and small and medium corporations. The proposed financial instrument will provide Galicia with: (i) an A loan of up to US$30 million to be financed by the Inter American Investment Corporation (“IIC”); and (ii) another A Loan of up to US$70 million to be financed by IDB. Total IDB Group financing will reach up to US$100 million to be disbursed in a three-year period in several tranches between five and seven years.