CAF - Development Bank of Latin America made its first issue of green bonds for 52.2 million dollars, which placed a term of 10 years and a coupon of 6.75 percent, the financial institution reported today.
The operation was in charge of JP Morgan and is part of CAF's Green Bonds Emissions Program for a total amount of 600 million dollars, which will finance projects "with high environmental and social impact" in Ecuador, Panama and Peru, the bank said in a public statement released in the Panamanian capital.
The CAF executive president, Luis Carranza, highlighted the commitment of the institution "with the migration towards low carbon economies resilient to climate change", and that is why 28 percent of the total amount of credit and technical cooperation operations in 2017 corresponded to green financing".
"We are pleased with the investors' support with the start of CAF's Green Bond Issuance Program because it will allow us to channel resources for financing projects with high environmental and social impact within the region," he added.
CAF said that it promotes "environmental sustainability and climate change in the region through programs, projects and actions" aimed at "sustainable productive transformation and green infrastructure in the shareholder countries."
"In the same way, the institution directs efforts to the identification and structuring of projects and programs for international green funds," he added.
CAF - Development Bank of Latin America was built in 1970, it is conformed at present by 19 countries and 13 private banks, and it is one of the main sources of multilateral financing and an important generator of knowledge for the region, according to its Web page.