{"id":1369,"date":"2022-12-12T09:58:45","date_gmt":"2022-12-12T09:58:45","guid":{"rendered":"https:\/\/lagreen.lu\/?p=1369"},"modified":"2022-12-12T10:04:51","modified_gmt":"2022-12-12T10:04:51","slug":"lagreen-invests-in-first-blue-bond-issued-by-a-latin-american-financial-institution","status":"publish","type":"post","link":"https:\/\/lagreen.lu\/es\/lagreen-invests-in-first-blue-bond-issued-by-a-latin-american-financial-institution\/","title":{"rendered":"LAGreen invests in first blue bond issued by a Latin American financial institution"},"content":{"rendered":"<ul class=\"wp-block-list\">\n<li>The bond, issued by Banco Internacional in Ecuador, will support ocean-friendly projects and clean water resource protection.<\/li>\n<\/ul>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Quito and Luxembourg, 12 December 2022<\/strong> \u2013 LAGreen, the Latin American Green Bond Fund, advised by Finance in Motion and Santander Asset Management, has partnered with the International Finance Corporation (IFC) as lead investor, and Symbiotics Investments in this landmark USD 79 million blue bond issued by Banco Internacional in Ecuador.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Structured in line with ICMA\u2019s Green Bond Principles and IFC\u2019s Blue Finance Guidelines, the bond will mainly finance investments in the value chain of the sustainable fisheries and aquaculture sectors. The use of proceeds is intended to contribute to numerous SDGs, but particularly to SDG 12 (responsible consumption and production) and SDG 14 (life below water).<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Banco Internacional, founded in 1973, has operations throughout Ecuador and serves more than 500,000 clients. The bank is an ideal partner for a blue bond, due to its capacity to reach companies in the fisheries and aquaculture sectors that are adopting sustainable production practices, several of which are certified under internationally recognized sustainability standards, such as the Marine Stewardship Council (MSC) and the Aquaculture Stewardship Council (ASC) certification.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Sustainable fisheries and aquaculture are highly relevant sectors in Ecuador both from an economic and environmental perspective. For example, the industry of shrimp production is an increasingly important contributor to exports and job creation. At the same time, local companies are making progress towards the adoption of sustainable production practices, with positive impacts in the areas of biodiversity conservation, sustainable use of natural resources, and climate action, a trend that will be further supported with the funding mobilized through this bond.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LAGreen\u2019s investment was channeled through the subscription of a USD 23 million bond, issued by Micro Small and Medium Enterprises Bonds S.A., sponsored by Symbiotics Investments. The bond is listed on the Luxembourg Stock Exchange (LuxSE) and displayed on the Luxembourg Green Exchange (LGX). The proceeds of this bond were dedicated to investing in the blue bond issued by Banco Internacional in the Quito Stock Exchange.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LAGreen Chairperson Johannes Scholl said: \u201cThis blue bond is strongly aligned with our strategy of enhancing LAGreen\u2019s impact by focusing on the sectors that are more relevant in each country from an economic, environmental and climate perspective. We are also very proud to be part of this historical issuance with Banco Internacional and IFC and believe that blue bonds will prove to be an effective tool in promoting the production practices that contribute to enhancing ocean and coastal preservation.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cAs a member of LAGreen\u2019s advisory group, it is a pleasure to facilitate LAGreen\u2019s blue bond investment through LuxSE and LGX. LAGreen\u2019s ambitious goal of building the green bond market in Latin America\u2019s emerging markets is a cause shared by LuxSE. By channeling the use of proceeds to finance sustainable water and wastewater management and aquatic biodiversity amongst other eligible projects, LAGreen is giving Latin American players an important opportunity to make a real impact not just locally but throughout the world,\u201d commented Laetitia Hamon, Head of Sustainable Finance at LuxSE.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Elizabeth Mart\u00ednez Marcano, IFC&#8217;s Manager for the Andean Region, said: &#8220;By announcing this commitment in Ecuador, IFC will be contributing to the development of local debt capital markets while fostering blue finance opportunities. We are optimistic IFC&#8217;s support will catalyze other market players to offer blue bonds and related financing instruments in the region, supporting a robust blue economy.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Francisco Naranjo, CEO of Banco Internacional, said: &#8220;Banco Internacional will be proud to be the first private financial institution in the region to issue blue bonds. This new milestone reaffirms our commitment to sustainable finance and contributes to economic growth through responsible practices with the environment.&#8221;<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cWe are proud to have assisted LAGreen in channeling these funds to participate in the first blue bond issued by the private sector in Latin America. Thanks to our platform, a range of investors get simplified access to impact investment opportunities, including local bond issuances, in over 70 emerging and frontier markets, through LSE-listed notes. We intend to grow this offer going forward, which will permit to channel more funding into highly needed sustainable projects around the world,\u201d said Daniel Schriber, Head of Investment at Symbiotics Investments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Sobre LAGreen<\/strong><br>LAGreen es el primer fondo de inversi\u00f3n de impacto dedicado a bonos verdes en Am\u00e9rica Latina.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Al invertir en bonos verdes y apoyar a nuevos emisores con asistencia t\u00e9cnica, el objetivo de LAGreen es impulsar los beneficios ambientales y sociales en toda la regi\u00f3n y promover la transici\u00f3n hacia una econom\u00eda verde. Adem\u00e1s, el fondo tiene como objetivo promover est\u00e1ndares de alto impacto para los bonos verdes, tanto en t\u00e9rminos del impacto de los proyectos apoyados como de credenciales verdes, informes y evaluaci\u00f3n de impacto.<br>As an impact investment fund advised by Finance in Motion and Santander Asset Management, <\/p>\n\n\n\n<p class=\"wp-block-paragraph\">LAGreen was established as an initiative of Germany&#8217;s KfW Development Bank, with seed capital provided by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ).<br>Para m\u00e1s informaci\u00f3n, visite <a href=\"https:\/\/lagreen.lu\/es\/\">https:\/\/lagreen.lu\/es\/<\/a> y s\u00edganos en <a href=\"https:\/\/www.linkedin.com\/company\/lagreen-fund\/\">LinkedIn<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About Banco Internacional<\/strong><br>Banco Internacional was founded in Quito in 1973, has more than 1300 employees committed to the satisfaction of its customers nationwide. Banco Internacional is the leading bank in efficiency, it stands out for its focus on small, medium and large companies, as well as people of high and medium income. The institution has 73 branches nationwide in 17 provinces, in the Sierra, Costa and Amazon regions, and more than 360 ATMs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About IFC<\/strong><br>IFC\u2014a member of the World Bank Group\u2014is the largest global development institution focused on the private sector in emerging markets. We work in more than 100 countries, using our capital, expertise, and influence to create markets and opportunities in developing countries. In fiscal year 2022, IFC committed a record $32.8 billion to private companies and financial institutions in developing countries, leveraging the power of the private sector to end extreme poverty and boost shared prosperity as economies grapple with the impacts of global compounding crises. For more information, visit <a href=\"http:\/\/www.ifc.org\">www.ifc.org<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>About Symbiotics Investments<\/strong><br>Symbiotics is the leading market access platform for impact investing, dedicated to private markets in emerging and frontier economies. The group offers investment, asset management and capacity building services. Since 2005, Symbiotics Investments has originated over 7,100 investments representing more than USD 7.5 billion for 541 companies in 94 countries. For more information, visit <a href=\"http:\/\/symbioticsgroup.com\">symbioticsgroup.com<\/a>.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Contacto de prensa LAGreen<\/strong><br>Merle R\u00f6mer<br>Manager Marketing &amp; Communications<br>Phone: +49 (0)69 271 035-171<br>Correo electr\u00f3nico: <a href=\"mailto:info@lagreen.lu\">info@lagreen.lu<\/a><\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Media contact Symbiotics<\/strong><br>Samy Derradji<br>Corporate Communication Manager<br>Correo electr\u00f3nico: <a href=\"mailto:samy.derradji@symbioticsgroup.com\">samy.derradji@symbioticsgroup.com<\/a><\/p>","protected":false},"excerpt":{"rendered":"Quito and Luxembourg, 12 December 2022 \u2013 LAGreen, the Latin American Green Bond Fund, advised by Finance in Motion and Santander Asset Management, has partnered with the International Finance Corporation (IFC) as lead investor, and Symbiotics Investments in this landmark USD 79 million blue bond issued by Banco Internacional in Ecuador. 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