IDB Invest And Banistmo Announce First Gender Bond In Latin America - Lioness Magazine
Gema Sacristán, Chief Investment Officer of IDB Invest (right), and Aimeé Sentmat de Grimaldo, Executive President of Banistmo (left) announce the first gender bond issued in Latin America, for $50 million and with a 5-year tenor. The funds captured will be used to finance women-led small and medium enterprises (SMEs) in Panama. The announcement was made at the World Economic Forum in Cartagena, Colombia.
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IDB Invest And Banistmo Announce First Gender Bond In Latin America

IDB Invest and Banistmo announce the issuance of the first social gender bond in Latin America, totaling $50 million with a five-year term. Banistmo issues the bond, and IDB Invest structures it and buys 100 percent of it.

The issuance makes Panama the first country in Latin America with a social bond with a gender focus, aimed exclusively at expanding access to financing for women-led small and medium enterprises. The resources will promote entrepreneurship and women’s economic empowerment in that country.

The bond has a second party opinion from Vigeo Eiris, which accredits compliance with the international social bond standards in The Social Bond Principles of the International Capital Market Association (ICMA).

The bond can potentially contribute to four UN Sustainable Development Goals (SDGs): Gender equality (SDG 5), Decent work and economic growth (SDG 8), Industry, innovation and infrastructure (SDG 9) and Reduced inequalities (SDG 10).

In 2018, Banitsmo launched Impulsa, training more than a thousand women in personal and business finance. Impulsa is part of the women entrepreneurship Banking (weB) program, created by IDB Invest and IDB Lab in 2012 to help banks better serve the women’s market. weB has approved more than $800 million in loans and $5 million in technical assistance to 20 banks in 12 countries.

IDB Invest, a member of the Inter-American Development Bank (IDB) Group, is a multilateral development bank committed to the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies so they can achieve financial results and maximize the region’s economic, social, and environmental development. With a portfolio of $12.4 billion in assets under administration and 342 clients in 24 countries, IDB Invest provides innovative financial solutions and advisory services in response to its clients’ needs in several sectors.

About the author

Natasha Zena

Around age eight Natasha Zena was told it was a woman’s job to take care of the home and since then she has built a career out of telling women they can do whatever the hell they want to do. She is the co-founder of Lioness, the digital magazine for female entrepreneurs, and the first media outlet solely dedicated to helping women launch and scale high-growth startups. Natasha was recognized as an emerging leader in digital media by The Poynter Institute and the National Association of Black Journalists. She has mentored women entrepreneurs at a number of accelerators, Startup Weekends and conferences, including The Lean Startup Conference in San Francisco, Calif. Natasha is also the author of the popular whitepaper, "How To Close The Gender Gap In Startup Land By 2021." In her spare time, she writes short fiction and hangs out with her son, Shaun.

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