MARKET DEVELOPMENT

• Increased opportunities for Colombian entrepreneurs in vulnerable areas. MSMEs in areas with over 50% multidimensional poverty will benefit from an improved access to finance their activities. This is important in a country where over 60% of the economic activity is informal1 . Financing entrepreneurs will translate into job security and better working conditions for their employees. 
• Increased access to social housing for low‑income households, youth and individuals. Government‑subsidized residential mortgages will be supported by the sustainable bond through three social programs (Mi Casa Ya, Vivienda de interés social and Vivienda de interés prioritario) that will benefit first‑time home buyers. This investment will enable them to make a down payment at competitive interest rates. 

WOMEN’S ECONOMIC EMPOWERMENT

• Increased opportunities for Colombian women in business. 2 in 4 women participate in informal economic activities earning incomes below the poverty line2. The issuance of the sustainable bond will allow women‑led microenterprises and SMEs with over 50% women employees or over 20% women ownership to access financial opportunities to increase their market share.

CLIMATE ACTION

• Expanded financing of renewable energy initiatives. Banco de Bogotá will facilitate financing of clean energy sources, such as wind‑powered grid and off‑grid applications for the residential, commercial, and industrial sectors, small scale hydroelectric generation projects and biodigesters. 
• Improved financing of energy efficiency initiatives. The bond issuance will enable the upgrading or replacement of heat recovery systems and lighting, residential and commercial water heaters as well as electric motors and gas‑powered freight vehicles.
• Catalyzed growth of circular economy activities. In line with the country’s 2019 national circular economy strategy and its 2018‑2022 National Development Plan, Banco de Bogotá intends to support circular economy projects to accelerate Colombia’s transition to a low‑carbon economy. These projects include improved collection, reuse and recycling of materials; extending products lifespan through re‑manufacturing, refurbishing repairing and second‑hand market initiatives; and the commercialization of services instead of products through rentals and leasing