Hogan Lovells helps IFC disburse COVID-19 aid in Colombia
Hogan Lovells has advised the International Finance Corporation (IFC) in connection with a $100 million financing for Banco Davivienda in order for it to provide loans for low-income housing, women-owned small businesses and sustainable agribusiness projects in Colombia to counter the effects of the Covid-19 pandemic.
The loan will expand Davivienda’s ability to support Colombia’s economy, which has been heavily impacted by the COVID-19 pandemic.
The financing package includes money from IFC’s own account and a loan through the Managed Co-Lending Portfolio Program (MCPP) with institutional investors. It also involves a syndicated loan led by the eco.business Fund, which is run by the German impact asset management firm Finance in Motion.
The Hogan Lovells team was led by senior counsel Thomas Hechl, international legal adviser Antonio de la Esperanza, and associate Mariana Amaral.
The same Hogan Lovells team also advised IFC on a previous $335 million loan to Banco Davivienda to empower Colombian women and social housing, in January 2020.
