“For this reason the CNV is evaluating a proposal that exceeds current regulations for the entities indicated in article 1 of Law No. 23576 that intend to finance eligible social projects structured through existing entities or constituted exclusively for that purpose, in order to encourage the participation of actors such as trade union associations, business chambers, professional organizations and any other public savings institution,” said Consentino.
The official noted that “All these initiatives are part of the Capital Market Development Plan that we are carrying outwith priority emphasis on a genuine federalization of this activity”.
The head of the CNV indicated that “currently companies can issue negotiable obligations (ON) whose destination is the financing of a social, green or sustainable project.”
“Lately there has been a growing interest from broadcasters to include in their global programs the possibility of broadcasting series or classes under programs with these destinations, and also broadcasts made by SMEs to promote the development of impact finance and that lead the process of financial inclusion. Banks have also expressed their interest in issuing this type of negotiable obligations”, concluded Cosentino.
Source: Ambito
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