After more than a year since the issuance of the first sustainable bond last March in the amount of 50 million dollars, Produbanco of Grupo Promerica explained that the collected funds were channeled through 336 loans. The funds for the bond were managed by the Inter-American Development Bank (IDB).

This, according to the results of the bank’s report on operations with these funds. The report states that loans were approved for 260 clients in 14 provinces and 42 cantons. In terms of distribution, the average amount approved per loan was $216,000 with an average term of 40.9 months, the bank added.

The sectors that benefit from these resources belong to activities such as trade, manufacturing, agriculture, animal husbandry, forestry and fishing, construction, services, transport and storage, water distribution, energy supply, health and information and communications.

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The report also states that 11% of disbursed loans went to projects with positive effects on the environment, and 89% to small and medium-sized enterprises with positive effects in social aspects.

“As a bank, our role has been crucial in directing liquidity and responsible intermediation of resources to promote the sustainable development of the manufacturing sector. In this way, we contribute to the transition towards a sustainable economy, both with our internal management as a responsible institution, as well as with our ability to influence various industries,” reads an excerpt from the report published by the bank.

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By January 2023, a balance of USD 54,869,965 was registered. As for the composition of the portfolio, USD 25,279,750 corresponds to green loans, which represents 35% of the total amount, and USD 47,511,041 to loans with a social focus, with a 65% share.