The Colombian development bank Bancoldex announced the issuance of a social bond for an amount in local currency equivalent to nearly 100 million dollars. The placement is part of the Bancoldex’s 2022-2026 sustainability strategy, which seeks to promote sustainable development in the country through financial and non-financial instruments that promote social welfare and green growth, with a territorial approach and leveraged in its innovation, digitalization, and sustainable knowledge.

Bancoldex’s social bonds are governed by the four Principles of Social Bonds published by ICMA and must have a framework document, a second party opinion and periodically report on the use of proceeds. The bonds will be issued for a term of 2 and 3 years.

The issuance, which has received the AAA rating from BRC Standard & Poor’s, is planned for May 11th, 2022.