The Development Facility has helped design sustainable cattle portfolios for Banco Lafise in Nicaragua, Global Bank and Multibank in Panama, and Bancolombia in Colombia, by implementing technological tools and designing and/or adapting bank credit policies to require that producers uphold a set of environmental safeguards. These technological tools allow credit officers to monitor cattle farms and thus verify producer compliance with sustainable practices and environmental safeguards. In this way, banks can guarantee that their current and potential clients are not, for example, engaging in deforestation.
Last year, as part of a project with Bancolombia, tailor-made improvement and investment plans have been delivered to 38 cattle farmers. This includes drone-captured images of farms (including elevation models) to be used in guiding farm management and decision-making processes, enabling them to improve their environmental performance. 90% of these cattle farmers have chosen to adopt sustainable practices and Bancolombia is now working to provide these farmers with financing to implement these practices through their green financial product. Additionally, training bank staff is key for ensuring that these projects are fully adopted and implemented within each institution. For this reason, the DF has trained:
- 17 loan officers in the use of GPS.
- 54 staff members on sustainable cattle practices.
- 22 staff members on the use of satellite monitoring and management platforms.
- 25 loan officers on the use of tablets and data collection.
- 8 loan officers in drone flying.