April 21, 2022 |
Colombian lender Bancolombia has reached an agreement to borrow $150 million from Bank of America as it seeks to bolster its sustainable lending program and reduce carbon dioxide emissions, according to local press reports.
According to the terms of the loan, Bancolombia has to disburse COP9 trillion ($2.39 billion) in sustainable loans by 2024 and lower CO2 emissions by 12,900 tons, the equivalent of planting 200,000 trees, local newspaper La República reported.
Interest on the loan will declin
Colombian bank borrows $150 mln from Bank of America to support sustainable loans