Hogan Lovells team advises IFC on US$335 million loan to Banco Davivienda to empower Colombian women and social housing
Washington D.C., 15 January 2020 –International law firm Hogan Lovells has advised the International Finance Corporation (IFC) in connection with providing a US$335 million loan to Banco Davivienda aimed at helping women-owned small and medium-sized enterprises and social housing in Colombia.
The loan is the first that IFC has granted in Latin America and the Caribbean under the new Basel III capital requirements. It will finance loans to women-owned enterprises, social housing, and sustainable construction projects in Colombia.
Banco Davivienda, a long term partner of IFC, is the second largest bank by portfolio in Colombia, with operations also in Panama, Costa Rica, Honduras, El Salvador and Miami.
The Hogan Lovells team was led by senior counsel Thomas Hechl, international legal advisor Antonio de la Esperanza, and senior associate Patricia Duffy, from the firm’s Infrastructure, Energy, Resources and Projects (IERP) Group based in Washington, D.C. IFC´s In-house lawyer was Anne Marie Lauschus, and partner Daniel Londoño Pinzón, senior associate Diana Bogotá Prieto and associate Jaime Hernández Palacios at Gomez-Pinzón Abogados acted as Colombian counsel for IFC.
This is the second major loan to Banco Davivienda that Hogan Lovells’ IERP Group in Washington DC has advised IFC on recently, following the July 2019 US$35 million green loan to Davivienda Costa Rica.