New issue of CAF “Green Bonds” to foster sustainable development in Latin America
The second US$30-million lot of green bonds for international investors for was issued as part of an issuance program to promote the financing of projects with high social and environmental impact in the region.
In order to channel private investment towards financing of projects with high social and environmental impact within the region, CAF-development bank of Latin America- authorized the second issue of 5-year “Green Bonds” in the amount of US$30 million. The bonds were issued by BNP Paribas.
“We are committed to migrating towards low carbon, more climate change resilient economies. Therefore, 28% of the total amount of CAF loan operations and technical cooperation in 2017 went to green financing. The Green Bond Issuance Program we are running successfully thanks to our investors’ confidence will allow us to move forward in promoting sustainable development in Latin America,” said Luis Carranza, CAF executive president.
A total of $82.2 million have been raised from investors on both operations, which will be earmarked exclusively to projects with high environmental and social impact. These transactions are part of the CAF Green Bond Issue Program.
CAF has introduced the issues of environmental sustainability and climate change in the region through programs, projects and actions that promote low emission, more climate change resilient cities and with; efficient land use and ecosystem services; sustainable energy and energy efficiency; sustainable infrastructure; mobility and connectivity; and sustainable productive transformation. Similarly, the institution makes efforts to identify and structure projects and programs for the Green climate Fund (GCF), the Adaptation Fund (AF) and the Global Environment Fund (GEF).
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