Banco de Desarrollo Productivo Achieves Green Bond Milestone in Bolivia
Banco de Desarrollo Productivo (BDP) has issued Bolivia’s first certified green bonds, totaling BOB102.9 million ($14.8 million). The funds will support solar energy projects aimed at transitioning to a low-carbon economy, enhancing climate resilience, and reducing emissions. The climate initiative representative hailed this deal as a precedent for future investments.
On Friday, Banco de Desarrollo Productivo (BDP) announced its successful sale of BOB102.9 million (approximately $14.8 million) in green bonds, marking the first issuance in Bolivia certified by the Climate Bonds Initiative. This La Paz-based development bank is primarily owned by the Bolivian government and has the Latin American development bank CAF as a minority stakeholder.
The funds raised from these bonds will be directed towards solar energy initiatives aimed at facilitating Bolivia’s shift towards a low-carbon economy. Plans include the establishment of photovoltaic plants and associated infrastructure in Santa Cruz and Potosí departments, thus enhancing climate resilience, minimizing fossil fuel usage, and lowering greenhouse gas emissions.
Andrés Felipe Sánchez, who oversees Latin America and the Caribbean at the Climate Bonds Initiative, has characterized this issuance as a significant milestone. He remarked that this endeavor “sets a precedent for future green investments,” highlighting its potential impact on sustainable finance in the region.
In conclusion, Banco de Desarrollo Productivo’s issuance of green bonds signifies a pivotal moment in Bolivia’s efforts toward promoting renewable energy and sustainability. With aimed solar projects in strategic regions, the initiative could pave the way for future green finance opportunities, as emphasized by the Climate Bonds Initiative’s endorsement.
Original Source: latinfinance.com
