El Salvador’s Banco Agrícola has asked IDB Invest to arrange a $200 million sustainable bond deal in the local market that includes the country’s first-ever sale of blue notes.
IDB Invest, the private sector arm of the IDB Group, could acquire up to $15 million worth of blue bonds and mobilize as much as $10 million from local and international investors with the first issuance, according to the multilateral bank’s website.
Banco Agrícola, which is a subsidiary of Colombian financial services firm Grupo Cibest (formerly Grupo Bancolombia), intends to use the proceeds to fund water-focused investments under its sustainable financing framework, IDB Invest said.
The bank didn’t immediately respond to a request for additional details on the transaction.
IDB Invest arranged blue bond placements for Banco Bolivariano in 2023 and Banco Nacional de Costa Rica in 2024.
Last month, Banco Agrícola secured a financing package totaling up to $150 million from IDB Invest for on-lending to local SMEs.