Banco Bolivariano Blue Bond

in implementation

The Project consists of supportingBanco Bolivariano C.A.to issue the first Blue Bond in Ecuador. The total amount of the Bond is up to US$50 million with a five-year term. IDB Invest will act as an anchor investor with a subscription for a total amount of up to US$40 million. Another potential investor will participate with a subscription for a total amount of up to US$10 million. The Bond proceeds will be used to promote and further extend financing projects and opportunities for sustainable, water‑related ocean business that address the challenges of the blue economy, create sustainable business opportunities in the oceans and manage oceans responsibly.Additionally, IDB Invest will provide advisory services with the objective of supporting the bank in the process of the Blue Bond's structure. This involves defining the use of eligible funds, the development of the Bond´s conceptual framework, as well as the environmental and/or social benefit of the financed projects. In addition, Banco Bolivariano will also be supported in the certification of the Blue Bond through the contracting of an external provider of Second Party Opinions (“SPO”), who will be in charge of issuing the SPO.