Panama: Proparco and Unibank join forces to protect the planet and reduce gender inequality

Renewable energies represent a significant portion of the country’s energy mix, and remain central to its energy strategy. In Panama, gender inequalities persist -the country ranked 58th in the World Economic Forum’s 2023 Gender Gap Index, falling below both regional average and median.

Through this financing, Proparco and Unibank will contribute to mitigating climate change impacts and reducing gender inequality in line with the 2X Challenge initiative. This operation aligns closely with Panama’s economic needs and Unibank’s strategy for 2024-2027. This initial cooperation also supports Proparco’s new strategic priority to reduce socio-economic, gender, and territorial inequalities.

“Proparco is delighted to strengthen its presence in Panama and initiate a partnership with Unibank, a fast-growing player in the country’s banking ecosystem and deeply committed to climate and gender issues,” said Jean-Baptiste Sabatié, Deputy CEO of Proparco.

“Unibank is acutely aware of the crucial role that SMEs play in the Panamanian economy and is committed to providing products, services, and support to those who prioritise environmental sustainability and women’s inclusion. These initiatives could only be achieved with Proparco’s support,” said John Rozo, CEO of Unibank.

Unibank is a private Panamanian bank serving corporate, SME, and individual clients. It offers a broad range of financial solutions through deposits, automotive and property financing, as well as commercial, agro-industrial, and green loans. Unibank holds over USD 600 million in assets. In addition, the Unibank Group provides a wide range of services through its subsidiaries: UniLeasing (private and commercial leasing), UniTrust (trust services), and Invertis Securities (brokerage services).

The project will contribute to several Sustainable Development Goals (SDGs): SDG 5 “Gender equality,” SDG 8 “Decent work and economic growth,” and SDG 13 “Climate action.”