DCM DAV Col Bio

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The proposed investment consists of an investment of up to US$50 million equivalent in Colombian pesos (COP) in a biodiversity bond issuance by Banco Davivienda S.A (Davivienda or the Bank). The Colombian peso-denominated bond will be privately placed, and Davivienda will use the proceeds to finance projects for conserving, protecting, and restoring biodiversity and nature. In line with the IFC’s Biodiversity Finance Reference Guide, and Colombia's Green Taxonomy, the projects that can be financed with the proceeds of the biodiversity bond include business activities related to the use of recycled material, climate-smart and regenerative agriculture, reforestation, companies with sustainable seals that certify their good environmental practices and include biodiversity considerations, sustainable freshwater and marine production, among others.