Banco de Desarrollo Productivo has issued Bolivia’s first certified green bonds worth BOB102.9 million. Proceeds will fund solar energy projects aimed at supporting the transition to a low-carbon economy. The Climate Bonds Initiative praised the deal as a milestone for future green investments.
Banco de Desarrollo Productivo (BDP), Bolivia’s state-owned development bank, has successfully issued BOB102.9 million (approximately $14.8 million) in green bonds. This marks the first green bond initiative in Bolivia to receive certification from the Climate Bonds Initiative, a prominent nonprofit organization.
The funds generated from this issuance will be allocated towards solar energy projects designed to facilitate Bolivia’s transition towards a low-carbon economy. Specifically, the projects aim to establish photovoltaic plants and associated infrastructure in the Santa Cruz and Potosí departments.
These initiatives will play a crucial role in enhancing climate resilience while simultaneously diminishing reliance on fossil fuels and lowering greenhouse gas emissions, as indicated in a recent press release from the bank.
Andrés Felipe Sánchez, the head for Latin America and the Caribbean at the Climate Bonds Initiative, has praised the deal, describing it as a landmark achievement that “sets a precedent for future green investments.”
In conclusion, the successful sale of green bonds by Banco de Desarrollo Productivo signifies a pivotal advancement in Bolivia’s efforts towards sustainable finance and climate action. The proceeds will not only aid in the development of renewable energy infrastructure but also contribute meaningfully to reducing carbon emissions in the country. This inaugural green bond deal sets a significant precedent for future investments in sustainable initiatives within Bolivia.
Original Source: latinfinance.com
