#Colombia #Panama City #Bladex #Finanzauto

Bladex and Finanzauto Join Forces for Sustainable Growth

In a notable move towards fostering the development of small and medium-sized enterprises (SMEs) in Colombia, Banco Latinoamericano de Comercio Exterior, S.A. (commonly known as Bladex) has successfully concluded a significant syndicated loan arrangement with Finanzauto S.A. BIC. This partnership is set to not only enhance financial access for local businesses but also prioritize sustainability and responsible governance.

The recent transaction, which amounts to US $53 million and COP 60 billion, showcases the collaborative efforts of Bladex, a well-respected financial institution listed on the New York Stock Exchange, along with eight other distinguished regional financial entities. This collective commitment underlines Bladex’s expertise in orchestrating strategic alliances aimed at benefiting regional customers, particularly those focusing on ESG (environmental, social, and governance) practices.

Finanzauto, recognized for its pivotal role in Colombia's automotive finance sector, is particularly dedicated to promoting sustainable economic development. By securing this loan, the company can enhance its capability to deliver credit solutions tailored for MSMEs, vital contributors to the nation's economic landscape.

The Purpose Behind the Loan

The funds from this syndicate loan are earmarked for strengthening Finanzauto’s initiatives to provide financial products designed to empower MSMEs. This includes support for projects compliant with ESG standards while also enhancing logistical and operational frameworks essential for MSMEs to thrive in the competitive market.

With over 50 years of industry experience, Finanzauto has solidified its status in Colombia as the foremost non-bank financial institution, notably being the first to achieve B Corporation certification in the country. Its efforts have been supported by a local rating of AA- by BCR Ratings, highlighting its commitment to responsible finance.

Carlos de Alvear, Senior Vice President at Bladex, expressed pride in this collaboration, stating, "This operation underscores our commitment to promote sustainable economic growth in Latin America. By facilitating this loan in both US dollars and local currency, we can diversify Finanzauto's funding sources while advancing collaborative initiatives that integrate sustainability into business practices."

This alliance isn't solely about finances. It represents a shared vision between Bladex and Finanzauto to uplift the Colombian economy through responsible lending practices that empower smaller enterprises. The loan is seen as a critical stepping stone toward increasing access to capital for sectors historically underfunded, including those focused on providing cleaner transportation solutions.

A Shared Vision for Sustainable Development

Santiago Cleves Bayón, General Manager of Finanzauto, emphasized the broader implications of this loan. He stated, "Not only will this funding enhance our operational capabilities, but it solidifies our aligned values with Bladex regarding sustainability, governance, and corporate social responsibility. Together, we are committed to being catalysts for economic prosperity in Colombia, especially for small cargo and passenger transportation carriers."

In addition to supporting smaller enterprises, the partnership aims to bolster the regional economy by creating a network of strategic partners. Bladex’s ability to facilitate such collaborative financial arrangements positions it as a driver of sustainable development in Latin America.

Conclusion

Founded in 1979, Bladex works to enhance foreign trade and regional integration, operating a comprehensive network spanning across Latin America, including offices in Panama, Brazil, and Mexico, among others. By leading initiatives like the one with Finanzauto, the bank demonstrates its commitment to fostering sustainable growth and innovative financial solutions across the region, paving the way for inclusive economic advancements.

For additional insights on Bladex and its commitment to sustainable financing, visit www.bladex.com.