Peru and Luxembourg, December 18, 2024 – The LAGreen Fund, in collaboration with Banco Interamericano de Finanzas (BanBif) in Peru, proudly announces the completion of the first subordinated green bond issuance in the country. This issuance represents LAGreen’s inaugural primary market investment in Peru, underscoring its commitment to fostering the growth of the green bond market across Latin America.
BanBif issued subordinated (Tier II) green bonds amounting to USD 20 million, as the first series of a broader program of up to USD 200 million. The bonds will be subsequently listed on the Lima Stock Exchange, with LAGreen acting as the sole investor for the initial tranche. The investment will not only contribute to support BanBif’s sustainability agenda, but also to strengthen its capital position and growth strategy.
LAGreen supported the preparation of this green bond out of its Technical Assistance Facility, working together with BanBif in identifying eligible projects and preparing the bond’s Green Framework. The bonds proceeds will be utilized to finance a variety of green projects, focusing on sustainable agriculture, sustainable construction and clean transport, collectively expected to avoid 530 tons of CO2eq annually.
This milestone reflects BanBif’s commitment to sustainability and LAGreen’s mission to foster innovative, responsible investment in Latin America, solidifying a shared vision for impactful, climate-resilient finance.
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About LAGreen
LAGreen is the first green bond fund dedicated to Latin America. By investing in green bonds and supporting new issuers with technical assistance, LAGreen’s goal is to boost environmental and social benefits across the region and promote the transition to a green economy. In addition, the fund aims to promote high impact standards for green bonds, both in terms of the impact of supported projects, as well as green credentials, reporting, and impact assessment.
As an impact investment fund advised by Finance in Motion and Santander Asset Management, LAGreen was established as an initiative of Germany’s KfW Development Bank, with seed capital provided by the European Union (EU) and the German Federal Ministry for Economic Cooperation and Development (BMZ).
For more information visit https://lagreen.lu and follow us on LinkedIn.
About Finance in Motion
Finance in Motion is a global impact asset manager focused exclusively on sustainable development in emerging markets and developing economies. The company structures, manages, and advises impact investment funds that bring together public and private investors to address climate change, strengthen biodiversity conservation, foster the sustainable use of natural resources, improve livelihoods, and promote economic opportunities.
For more information, please visit us at: www.finance-in-motion.com
You can also follow us on X @financeinmotion and LinkedIn
About Banco Interamericano de Finanzas
BanBIF is a leading Peruvian financial institution committed to fostering sustainable development and impact investments. With nearly three decades of experience, the bank focuses on providing financing for mid-sized businesses and supporting projects in renewable energy, energy efficiency, and other climate-resilient sectors. Through its dedicated approach, BanBIF aligns with global trends in sustainable finance, creating opportunities for inclusive and resilient economic growth in Peru.
Media contact LAGreen
Nusha Westhoff
Director Marketing & Communications
Phone: +49 69 271 035 742
Email: info@lagreen.lu
Media contact Banco Interamericano de Finanzas
Isabella Quiroga
Director Marketing & Communications
Email: IQUIROGA@banbif.com.pe
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