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Banco Davivienda secures $335M loan from IFC

The International Finance Corp. said it provided a subordinated loan of $335 million to Colombia's Banco Davivienda SA, which will use the funds to finance women-owned small and medium-sized enterprises, social housing and sustainable construction projects.

Banco Davivienda President Efraín Forero said the loan is the bank's "first debt instrument under Basel III standards, which allows us to strengthen our capital indicators."

The IFC's relationship with Davivienda started with an equity investment in 1973, which was followed by several advisory services engagements and additional investments.