Initiation of financing for Hospital de Bosa, Colombia

On 1 October, it was made the first disbursement of the financing signed in July for the Hospital de Bosa in Bogotá. The project includes the design, construction, equipment, operation and maintenance of the Hospital. The financing will total 260 billion pesos and will be provided in equal parts by the entities Itaú and Grupo Bancolombia. This is the first financing in Colombia to obtain "Social Loan" certification for a public-private partnership. The certification was granted by Vigeo - V.E-, which belongs to the rating agency Moody's ESG Solutions.

The 4 components analysed - Use of Funds, Evaluation and Selection, Management of Funds, and Monitoring and Reporting - are considered to align with the Social Lending Principles, with two of them receiving a "Best Practice" rating. According to the "Expected Impact" section, the Bosa project will have an "Advanced" expected impact - the highest category - because of its "great potential to contribute to the improvement of Colombia’s existing healthcare in terms of lack of resources to access health services ... serving the general public, including mainly vulnerable populations in Bogotá. The expected long-term benefits include access to health services and job creation.” Likewise, the identification and management of environmental risks associated with the project was rated as "Robust", obtaining “Advanced” classification in the subsections Environmental Risks, Health and Safety and Community Involvement. Grupo Ortiz is the company that is leading the concessionaire and is responsible for the construction of the health infrastructure.