September 16, 2022
Ecuador's Banco Bolivariano plans to issue the first blue bonds in the local market next month, raising $50 million to provide financing for "sustainable, water‑related ocean business," according to IDB Invest, the private sector affiliate of the Inter-American Development Bank (IDB)
IDB Invest will buy up to $40 million worth of five-year bonds, while another investor will acquire up to $10 million, according to a document on the multilateral lender's website.
IDB Invest will also advise Banco
IDB Invest will anchor the $50 mln deal to fund loans to fishing and shrimp farming businesses