WASHINGTON - IDB Invest committed $50 million to Ecuador’s first biodiversity bond issuance, in an operation to expand financing for projects that conserve and sustainably use the country’s natural capital.
Of the $120 million issuance, $50 million was subscribed by IDB Invest, $50 million by the International Finance Corporation (IFC), and $20 million by the Dutch Entrepreneurial Development (FMO). The proceeds will finance projects under the Banco Bolivariano’s Biodiversity Financing Framework, which adheres to the International Capital Markets Association's principles.
The operation features a mobilization model that brings together IDB Invest, IFC, and FMO as co-investors to diversify the Bolivarian Bank's funding sources and to help solidify the presence of thematic instruments in the Ecuadorian market. It opens the door to future operations that support sustainable projects.
"This operation is a milestone for Ecuador’s financial market because it pairs biodiversity conservation with innovative financing solutions. The IDB Group celebrates this partnership with Banco Bolivariano as an example of how private capital can be mobilized to protect the country's natural capital and, at the same time, generate long-term economic and social benefits," said Ignez Tristao, IDB Group Representative in Ecuador.
In addition to financing, IDB Invest will provide technical assistance to enhance Banco Bolivariano's credit information and monitoring systems.
This operation reaffirms the commitment of IDB Invest and Banco Bolivariano to sustainable development and to creating innovative and sustainable financial solutions in Ecuador.
About IDB Invest
IDB Invest, a member of the IDB Group, is a multilateral development bank committed to promoting the economic development of its member countries in Latin America and the Caribbean through the private sector. IDB Invest finances sustainable companies and projects to achieve financial results and maximize economic, social, and environmental development in the region. With a portfolio of $22 billion in assets under management and more than 440 clients in 25 countries, IDB Invest provides innovative financial solutions and advisory services that meet the needs of its clients in a variety of industries. Visit our website: www.idbinvest.org/en.
About Banco Bolivariano
Banco Bolivariano is one of the most important financial institutions in Ecuador, recognized for its strong financial position and the excellence of its staff’s service. Its fast response time enables the creation of new products tailored to the needs of each customer segment. Its purpose is to responsibly and passionately drive the country’s sustainable progress. For more information, visit www.bolivariano.com.