Uruguay won the Sovereign ESG Operation of the Year award for its green bond

Uruguay won the Sovereign ESG Operation of the Year award for its green bond

LatinFinance magazine highlighted the country for the BIICC 2034, issued by the Ministry of Economy and Finance for a value of US$1.5 billion.

Photo: Freepik

He global bonus linked to climate change indicators which issued the Ministry of Economy and Finance (MEF) for 1.5 billion dollars was distinguished as the Sovereign ESG Deal of the Year by the American magazine LatinFinance.

From the Editorial Department of LatinFinance they highlighted that the recognition of BIICC 2034 was awarded by highlighting variables such as financial innovation, structuring, quality of execution and ESG impact of the transaction, which included buyers from all over the world.

The distinction was made among a record number of applications in the period from October 1, 2022 to September 30, 2023, based on ESG factors, which refer to the care of fundamentals environmental, social and governance.

Meanwhile, the government highlighted that the design of the bond required close coordination between the Economy and Finance portfolios; Atmosphere; Industry, Energy and Mining, and Agriculture, Livestock and Fishing, the Foreign Ministry and the Inter-American Development Bank.

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The government’s ESG strategy in 2024

He BIICC, expiring in October 2034, it has already had two successful tenders and now the MEF advances in another stage of the strategy IS G with the completion of an unprecedented loan of 350 million dollars from the World Bank, linked to the fulfillment of sustainable goals.

In fact, recently Kamil confirmed to Bloomberg that, although the launch of a new green bond is not on the agenda, a reopening of the existing one is possible, as well as the possibility of agreeing on a new sustainable loan with the Inter-American Development Bank (IDB), as part of the international claim that the country is carrying out and that has already been expressed in various areas by the president Luis Lacalle Pou and the minister Azucena Arbeleche.

“We have laid the foundations for Uruguay “is a regular issuer or borrower of sustainable finance,” he said. Kamil this week, while highlighting that success or not in the future “will depend on the political priorities of future administrations.”

Source: Ambito

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