Uruguay is an excellent gateway for Sustainable finance to Latin America, according to experts.
“Uruguay plays a very important role as an entry point into Latin America for these funds, which we believe is part of the world where these investments make a lot of sense.” said Diego Pereira, Sustainable Finance Program Coordinator for the United Nations Development Program (PNUD), at a webinar hosted by Uruguay’s Chamber of Construction (CCU).
Responding to a question from BNamericas, he said the green bond would finance infrastructure projects such as electric vehicles and railway development in Uruguay..
He said the 2030 Sustainable Development Goals could easily be met if just 1.1% of global financing operations were shifted to sustainability.
But the move will also require a paradigm shift in terms of development and growth, Pereira said in response to a question from BNamericas.
“Sustainability should be included in board meetings where we discuss our five-year strategic plan. We cannot see the future without sustainability, and once we do, we need to incorporate it into the company’s value proposition.” There is,’ he said.
IDB investment investment manager Matilde Peñagaricano said at the webinar: [sustainable finance] The reason is its institutional strength and political stability compared to other countries in the region. ”
She added that IDB Invest offers thematic bonds, a sustainable financing vehicle for warehouses. credit lines, partial credit guarantees, funding sustainable projects as private investors, and structured financing through fintech platforms.
Asked if any of these were used in Uruguay, Peña Garricano said a structured fundraising operation was used to raise funds. billion dollars The central rail PPP accounts for the majority of IDB Invest’s domestic outstanding balance.
Uruguay issued its first sovereign green bond last year and announced a sustainable bond framework in September.