Bancamía receives a FOMIN award for its development of ‘green’ financial products

2 October 2013

During the IDB Forum that took place this week in Guadalajara, Mexico, the Micro-finance Bank Bancamía S.A. was selected in the categoryFinancial Products for Renewable Energies and Energy Efficiency“, under the call for tenders organized by the EcoMicro program of the IDB’s Multilateral Investment Fund as well as the Nordic Development Fund (NDF).

María Mercedes Gómez Restrepo, CEO of the Bank, received the FOMIN award, which amounts to technical cooperation for COL$280,000 for the development of financial products that promote the use of clean energy while allowing cost reduction in the productive processes of its customers at the base of the economic pyramid.

The Bank is one of the four micro-finance institutions selected for the development of a “green finance” project, among 67 applications received from 17 countries in Latin America.

The synergy between care for the planet and the improvement of people’s quality of life requires that “green” financial products be developed making it possible to reduce energy costs with efficient and sustainable technology in order to contribute in the mitigation of climate change.

Following a call for proposals in which financial institutions from 17 countries in the region participated, Bancamía was selected as the only Colombian entity among the four winners. The selected entities will receive technical assistance for the creation of “green” financial products to provide the low-income population with access to clean and renewable energies as well as the possibility to adopt energy efficiency measures in its production processes.

Bancamía therefore receives a vote of confidence from the IDB and NDF in order to continue with its commitment to sustainability, which aims to meet the needs of entrepreneurs in an equitable manner who are at the base of the economic pyramid and to potentiate “Productive Finance” as an instrument of economic wealth in harmony with the environment.