Banco de Comercio Exterior de Colombia SA – BANCÓLDEX on Aug. 9 plans to issue 200 billion Colombian pesos worth of green bonds to finance projects that mitigate climate change impact, according to an Aug. 2 news release.
The bonds, which will be traded on Colombia's stock exchange, will be structured with technical cooperation from Inter-American Development Bank and support from the Climate Bond Initiative as well as Switzerland's State Secretariat for Economic Affairs (SECO).
"With this issuance, we will have more resources to finance projects related to sustainable construction, cleaner production, energy efficiency and renewable energy, among others, needed to combat climate change," Bancóldex CEO Luis Fernando Castro said in a statement.
The offer is being directed to corporations, institutional investors, pension and unemployment funds, government entities, and to the public in general.
As of Aug. 2, US$1 was equivalent to 2,962.98 Colombian pesos.