IDB Invest, a member of the IDB Group, announced the acquisition of a seven-year $50 million sustainable bond issued by Banco de Desenvolvimento de Minas Gerais S.A. (BDMG). The operation consolidates BDMG as the first Brazilian financial institution to issue a sustainable bond in the US market.

The funds from the sustainable bond will finance projects in Minas Gerais with measurable social and environmental benefits, such as energy efficiency, renewable energy, water and sanitation, health, and education initiatives.

As a result of this transaction, it will increase the credit available for green and social projects in Minas Gerais. BDMG will fund companies with projects of up to $5 million.
The issuance of these first BDMG sustainable bond, was supported by the IDB, giving assistance during the methodological design of the framework – designed in alignment with the UN’s Sustainable Development Goals (SDGs).