The Banco Popular y de Desarrollo Comunal de Costa Rica has announced a green bond public offering, which will be the first to be fully placed in the local market. The proceeds will be used to refinance green credit lines, specifically related to renewable energy, energy efficiency and water management projects.

The issuance is for an amount of approximately USD 80 million, with a five-year term and a risk rating of AA+ (cri) /scr AA+. This is the first issue linked to the Interbank Reference Rate (IRR). The company SCRiesgo is in charge of verifying the green issue, under the standards of the Bolsa Nacional de Valores (BNV) and the Climate Bond Initiative (CBI).

The projects financed with the resources of this bond will be aligned with the institution’s strategy, the Sustainable Development Goals (SDGs) and the Green Bonds Principles (GBP) issued by the International Capital Market Association (ICMA).