Translated by Andrés Martínez Forero
The Mayor of Bogotá, Carlos Fernando Galán, met with Alfonso García Mora, Vice President of the International Finance Corporation (IFC), to discuss various topics during COP16.
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The meeting explored how the IFC could serve as an anchor investor in the future issuance of green bonds. Additionally, it aimed to explore new financing opportunities for sustainable projects within the 'Bogotá Camina Segura' 2024-2027 City Development Plan.
Another topic discussed was technical cooperation and resource support for strengthening the management of Public-Private Partnerships (PPPs) and the development of the "Works for Taxes" initiative.
It is noteworthy that having the IFC as an anchor investor in the forthcoming issuance of green bonds is significant for Bogotá, as it would bolster investor confidence in the city's financial sustainability and sustainable development.
Alfonso García Mora, IFC Vice President for Europe and Latin America and the Caribbean, emphasized the meeting's importance on his X account:
Excelente reunión con @CarlosFGalan, alcalde de @Bogota, en la #COP16Colombia!
— Alfonso García Mora (@agarmora) October 27, 2024
Encantado de continuar apoyando a la ciudad en sus planes de desarrollo en infraestructura y financiación sostenible. @Ambientebogota
Gracias Alcalde! pic.twitter.com/oP3BnLiEQZ
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What are green, social, and sustainable bonds?
These are debt financial instruments designed to raise funds for projects with specific environmental or social objectives. Green bonds finance projects with positive environmental impacts, while social bonds focus on addressing social issues.
