Banco de Desarrollo Productivo Issues Bolivia’s First Green Bond

Banco de Desarrollo Productivo (BDP) sold BOB102.9 million in green bonds, marking Bolivia’s first certified green bond deal. The proceeds will fund solar energy projects, enhancing climate resilience and reducing fossil fuel dependence. This development is seen as a precedent for future green investments by the Climate Bonds Initiative.

Banco de Desarrollo Productivo (BDP) has achieved a significant milestone in Bolivia by selling green bonds worth BOB102.9 million ($14.8 million). This initiative marks the first certified green bond deal in the country, as confirmed by the Climate Bonds Initiative, a nonprofit organization.

The funds raised from these bonds will be allocated to solar energy projects aimed at facilitating Bolivia’s shift towards a low-carbon economy. Specifically, the projects will focus on constructing photovoltaic plants and supporting infrastructure in the regions of Santa Cruz and Potosí.

These initiatives are expected to enhance climate resilience, reduce reliance on fossil fuels, and minimize greenhouse gas emissions. Andrés Felipe Sánchez, the head for Latin America and the Caribbean at the Climate Bonds Initiative, highlighted the significance of this deal, stating it “sets a precedent for future green investments.”

The successful issuance of BDP’s green bonds reflects a positive development in Bolivia’s efforts towards sustainable finance. With the focus on solar energy projects, Bolivia is taking steps to advance its low-carbon economy. The endorsement from the Climate Bonds Initiative further emphasizes the potential for future green investments in the region.

Original Source: latinfinance.com