Banco Guayaquil, one of the main private banks operating in Ecuador, has completed its first issuance of green bonds on the Guayaquil Stock Exchange (BVG) for an amount of 80 million dollars.

The proceeds will be used to finance or refinance eligible projects related to energy efficiency, renewable energy, sustainable construction, and sustainable management of natural resources. The bank has developed a Green Bond Framework based on the Green Bond Principles (GBP) from the International Capital Markets Association (ICMA).

As reference, in year 2020, Banco de Guayaquil had issued its first social bond for 30 million dollars aimed to finance micro, small and medium-sized enterprises (MSMEs).