1. Home
  2. »
  3. News
  4. »
  5. IDB Invest supports Costa Rica’s inaugural blue bond
NEWS

IDB Invest supports Costa Rica’s inaugural blue bond

07/15/2024 Since 4 months

The National Bank of Costa Rica (BNCR), the largest commercial bank in the country with 2.6 million clients, has completed the issuance of the first blue bond in Costa Rica for an amount of 50 million dollars. IDB Invest has supported the operation as the main investor with a 25 million dollars contribution, mobilizing an additional 20 million dollars from FinDev Canada (the bilateral Development Financial Institution of Canada) and 5 million dollars from the green bond fund LAGreen.

The resources obtained will allow expanding the financing of companies in Costa Rica for blue economy projects that support marine-coastal areas, sustainable water and wastewater management, plastic waste management and circular economy.

Additionally, IDB Invest will provide advisory services to BNCR, including blue investment analysis, development of a Sustainable Financing Framework with blue taxonomy, co-financing of second-party opinion, and conducting a training program to enhance sustainable finance capabilities.

LATEST NEWS