Within the framework of Cooperation efforts to promote financial models that support biodiversity conservation and sustainable development, Banco Davivienda and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, through the IKI Save the Blue Five project, formalized a technical collaboration agreement aimed at strengthening sustainable finance linked to the protection of mangrove ecosystems and coastal biodiversity in the Colombian Pacific.
Through this Agreement, IKI Save the Blue Five will provide technical assistance to projects in the Pacific that are financed and implemented with resources from Davivienda’s Biodiversity Bond. The objective is to provide technical support for impact measurement, strengthen capacities, and promote benefits for people and marine-coastal ecosystems.
This partnership aligns with the “Biodiversity Bond” issued by Banco Davivienda and the International Finance Corporation (IFC), with a value equivalent to USD 50 million—an innovative financial instrument designed to channel resources toward projects focused on biodiversity conservation and sustainable use, agricultural development, sustainable water management, sustainable production, and the circular economy in the country.
It is also connected to an alliance with the Ministry of Environment and Sustainable Development, which seeks to ensure that a portion of these resources contributes to the restoration of Pacific mangroves and strengthens the development of local communities. The alliance will be in effect until 2027 and aims to establish biodiversity as a central pillar of economic and social development in the region.
As part of the next steps in the alliance, Save the Blue Five and Davivienda will jointly advance the selection of projects eligible for assistance and the refinement and application of criteria for measuring environmental and social impact within Davivienda’s existing strategy. The lessons learned are expected to serve as input for replicating the model in other coastal contexts across Latin America. IKI Save the Blue Five is a regional project funded by the Federal Ministry for the Environment, Climate Action, Nature Conservation and Nuclear Safety (BMUKN) of Germany through the International Climate Initiative (IKI) and implemented by GIZ in partnership with the Permanent Commission for the South Pacific, Conservation International, and MarViva Foundation. Its objective is to strengthen marine conservation in six countries of the Southeast Pacific, and through agreements such as this one, we promote sustainable finance in the region, contribute to international financing goals, and help consolidate a blue future for the ecosystems and communities of the Colombian Pacific.
