This issue is aligned with the United Nations Sustainable Development Goal (SDG) 6, which directly benefits thousands of Peruvians in rural and peri-urban areas.
Cofide, the Development Bank of Peru, successfully issued the first Blue Bond in Peru, for an amount of 100 million soles, approximately US$ 26.3 million, for a one-year term, with the aim of financing projects that improve access to drinking water and sanitation.
This issue is aligned with the United Nations Sustainable Development Goal (SDG) 6, which directly benefits thousands of Peruvians in rural and peri-urban areas.
The demand obtained exceeded by 2.2 times the maximum amount offered by Cofide, reaching 217 million soles, and closing at an interest rate of 4.71875% (spread of 14.875 basis points on the one-year term Certificates of Deposit issued by the Central Reserve Bank of Peru), which is the lowest rate obtained in local short-term issues this year.
The auctioned amount was awarded as follows: AFPs (42%), Public Sector Entities (30%), Stock Brokerage Firms (14%), Mutual Funds (8%), Insurance and EPS (6%).
The funds obtained will be used to finance or refinance loans that promote a more responsible and efficient use of water resources thanks to an alliance with the Peruvian Federation of Municipal Savings and Credit Banks (Fepcmac) and Water.org, for the benefit of programs related to access to drinking water and sanitation of the Municipal Savings Banks of Arequipa, Huancayo, Cusco, Ica, Piura and Trujillo.
These entities signed an agreement that has allowed the disbursement of 997 million soles through 302,000 loans.
Of these, 22% have benefited rural populations, 48% women, and 84% have been placed in provinces. The first issue of the Blue Bond is expected to expand this impact, providing additional and more economical funding for projects that strengthen water and sanitation infrastructure, thus benefiting a greater number of Peruvian families.
With this issue in the local capital market, Cofide adds more than 740 million soles of labeled bonds, being a recurring issuer and leader in thematic issues with seven bonds of this type: one Blue (today's), four social, one sustainable and one green.
On the other hand, it also has more than 2.7 billion dollars of securities issued in the international capital market, which highlights Cofide's important contribution to the development of sustainable finance, with an emphasis on social impact projects in Peru.
