Banco de Desarrollo Productivo (BDP) has made its debut in the green bond market, selling BOB102.9 million worth of bonds certified by the Climate Bonds Initiative. The funds will be used for solar energy projects, contributing to Bolivia’s low-carbon transition, with the aim to strengthen climate resilience and reduce greenhouse gas emissions. This move has been praised as a significant milestone by leaders in sustainable finance.
Banco de Desarrollo Productivo (BDP) has successfully launched Bolivia’s inaugural green bond initiative, raising BOB102.9 million (approximately $14.8 million). This historic achievement was certified by the Climate Bonds Initiative, a widely recognized nonprofit organization. The funds generated from this bond will primarily be allocated towards solar energy projects, aiding Bolivia in its transition towards a low-carbon economy.
The green bond proceeds will facilitate the development of photovoltaic plants and associated infrastructure in Santa Cruz and Potosí, enhancing the country’s climate resilience. These initiatives are aimed at minimizing fossil fuel consumption and decreasing greenhouse gas emissions, contributing positively to environmental sustainability.
Andrés Felipe Sánchez, who serves as the head for Latin America and the Caribbean at the Climate Bonds Initiative, remarked on this development calling it a significant milestone for Bolivia’s green finance landscape. He noted that this endeavor “sets a precedent for future green investments.”
The issuance of green bonds by Banco de Desarrollo Productivo marks a pivotal moment in Bolivia’s commitment to sustainable finance. The funds raised will directly support solar energy projects, thus promoting a low-carbon economy while enhancing climate resilience. This initiative not only fosters environmental sustainability but also establishes a benchmark for future green investments within the region.
Original Source: latinfinance.com
