BICE to Issue the First Sustainable Bond in Argentina

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Feb 2019
Argentina, February, 06 2019 - It will be the first bond qualified as sustainable in Argentina, as well as being the bond issuance that contributes to the largest number of Sustainable Development Goals (SDGs) in Latin America and the Caribbean.

IDB Invest, the private sector institution of the Inter-American Development Bank (IDB) Group, signed an agreement with BICE (Banco de Inversión y Comercio Exterior) of Argentina for the subscription of a $30 million bond.

It will be the first one qualified as sustainable in Argentina, as well as being the bond issuance that contributes to the largest number of Sustainable Development Goals (SDGs) in Latin America and the Caribbean.

The bond issuance is aimed at strengthening financial inclusion and productive development. Within its project portfolio, BICE has identified seven of the seventeen United Nations SDGs that it could contribute toward: No poverty (No. 1), Gender equality (No 5), Affordable and clean energy (No. 7), Decent work and economic growth (No. 8), Industry, innovation and infrastructure (No. 9), Reduced inequalities (No. 10) and Climate action (No. 13).

The use of the funds is aimed at increasing the loan portfolio in BICE for projects that comply with at least one of the seven identified SDGs. Of particular note are the energy efficiency and renewable energy projects, the companies led by women, those operations that support the development of the northern area of Argentina, the issuance of negotiable obligations of small and medium enterprises (SME) and SME with a generation of measurable employment.



 

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