Together with the Inter-American Development Bank (IDB), BANDEX was once again in China. This time sitting at the table with 12 development banks from ten Latin American and Caribbean countries and with Chinese banks and institutions at the end of November during Green Financial Knowledge Week.
Of three moments in this visit, the first major event of the mission to China was the meeting sponsored by the Institute of Latin American and Chinese Studies (ILAS CASS) and the BU Global Development Policy Center to explore opportunities for collaboration between development banks Latin Americans and China.
Of equal or greater significance was attendance at the Sixth Annual Green Banking Congress of the Green Bank Network . This event was held at the Ritz-Carlton Pudong in Shanghai in partnership with the Center for Development and Finance at Tsinghua University and the China Green Finance Committee.
The rise of environmental financing in the world is of such significance that the Network of Green Banks revealed during the Congress that its members closed transactions that will mobilize more than US$41 billion in financing for green infrastructure projects and development with low carbon emissions. carbon. Reports indicate that annual green bond issuance globally skyrocketed from USD11 billion in 2013 to more than USD161 billion in 2017.
The Green Bank Network closed financing for US$41 billion for environmental projects during 2019.
A Guide to Green Panda Bonds
During Green Finance Knowledge Week, BANDEX also attended the launch of the Green Panda Bonds Guide in Shanghai . This manual provides an overview of the issuance process and the Chinese regulators and stakeholders. China is now the world's second-largest green bond market, according to the international organization Climate Bonds Initiative.
The launch event for the Green Panda Bonds Guide , organized by the Inter-American Development Bank (IDB) , the People's Bank of China , and the Climate Bonds Initiative , aimed to provide opportunities for Latin American national development banks as potential green bond issuers through direct talks with Chinese investors.
BANDEX was a participant within a representative group of National Development Banks from Latin America and the Caribbean, including the Brazilian Development Bank ( BNDES ) and the Mexican National Foreign Trade Bank ( BANCOMEXT ) that have already joined other Chinese banks for issuances in China's green bond market.
A great opportunity as an observer in this reconversion process that BANDEX is experiencing and in which it is working to develop an important green banking offer for the Dominican export sector.
The IDB's deference in joining us in this Green Investment Knowledge Week in China is invaluable, as BANDEX projects itself as a global bank and will be at the forefront of green banking in the Dominican Republic. Invaluable because these are the scenarios in which the experiences accumulated by important international institutions for financing environmental projects are internalized. Its learning and implementation from this development bank will impact cleaner local production for the international market.
