Banco de Desarrollo Productivo (BDP) has issued Bolivia’s first certified green bonds worth BOB102.9 million ($14.8 million) to fund solar energy projects. This initiative aims to support the country’s transition to a low-carbon economy, focusing on sustainable energy and reducing greenhouse gas emissions. Andrés Felipe Sánchez of the Climate Bonds Initiative calls it a landmark deal, paving the way for future green investments.
Banco de Desarrollo Productivo (BDP) has achieved a significant milestone by issuing BOB102.9 million (approximately $14.8 million) in green bonds. This transaction marks the inaugural green bond issuance in Bolivia that has received certification from the Climate Bonds Initiative. The La Paz-based development bank, partially owned by the Bolivian government and CAF, will allocate the funds towards solar energy initiatives to facilitate the nation’s transition to a low-carbon economy.
The funded projects will focus on constructing photovoltaic plants and necessary infrastructure in Santa Cruz and Potosí. These initiatives are aimed at enhancing climate resilience, decreasing reliance on fossil fuels, and minimizing greenhouse gas emissions in Bolivia. The focus on renewable energy is critical to the country’s environmental objectives.
Andrés Felipe Sánchez, who oversees Latin America and the Caribbean for the Climate Bonds Initiative, praised the green bond issuance as a landmark achievement, stating it “sets a precedent for future green investments.” This marks a pivotal moment for sustainable financing in Bolivia as it aligns with global trends towards environmentally responsible investment practices.
Banco de Desarrollo Productivo’s issuance of green bonds is a pivotal step for Bolivia’s sustainable finance landscape. The allocation towards solar energy projects exemplifies commitment to a low-carbon economy, reflecting broader global trends. This inaugural deal not only facilitates immediate environmental enhancements but also paves the way for future green investment opportunities within the region.
Original Source: latinfinance.com
