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2 clusters · 2 sources · 22 days · First seen · Last updated

Financial sector responses to El Niño climate risks

Overview

Financial institutions in various regions are implementing measures to mitigate the economic impacts of the El Niño climate phenomenon.

In Sri Lanka and Fiji, banks have focused on proactive resilience. The Commercial Bank of Ceylon launched educational and technological programs for farmers to prepare for climate impacts, while the Fiji Development Bank began developing a guarantee facility to improve access to climate finance for resilient crops and infrastructure.

As the El Niño phenomenon intensified, causing droughts and floods in Latin America, Southern Africa, and Southeast Asia, the focus shifted toward relief. Banco del Pacífico announced a 90-day grace period for loans in provinces under red alert. Additionally, BBVA instructed risk teams to review loan books in Peru, Argentina, and Colombia to consider debt rescheduling for vulnerable customers.

Entities

University of Jaffna · Food and Agriculture Organization · Banco del Pacífico · World Meteorological Organization · Fiji Development Bank

Timeline

  1. [BUSINESS] 2 sources
    Banks implement loan relief measures amid El Niño climate risks

    Banks including Banco del Pacífico and BBVA are offering loan relief and reviewing debt structures to support clients affected by the El Niño climate phenomenon.

  2. [BUSINESS] 3 sources
    Financial institutions launch climate resilience initiatives for agriculture

    Financial institutions in Sri Lanka and Fiji are implementing programs and guarantee facilities to bolster agricultural resilience against climate change and El Niño risks.

Sources

insurancejournal.com · metroecuador.com.ec