LatinNews Daily - 28 July 2023

In brief: World’s first incentive-driven ‘blue bond’ issued in Ecuador

* The Ecuadorean bank Banco Bolivariano has issued the world’s first ‘blue bond’ with incentives linked to meeting objectives in ocean conservation. The US$80m bond was issued in partnership with the Inter-American Development Bank (IDB) and Canada’s Development Finance Institute (FinDev Canada). It is intended to raise funds for ocean conservation by expanding access to credit for the sustainable production of shellfish, as well as improving water and wastewater management and solid waste management. It will also promote the participation of micro, small, and medium-sized enterprises (MSMEs) in the supply/value chain, according to the IDB, which said that the bond’s inclusion of targeted incentives makes it “the first of its kind in the world”.

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