As part of a major sustainable finance initiative, the Global Green Growth Institute (GGGI) organized thematic bond workshops for Banco BHD, Banfondesa and Banco Caribe in the Dominican Republic in 2023. The workshops aimed to improve the understanding and implementation of thematic bonds and thus contribute to the development of the sustainable finance market in the Latin American and Caribbean region.
The workshops helped bank executives better understand the benefits of thematic bonds and their potential impact on the economic and environmental sustainability of the Dominican Republic. The workshops included the review of different steps required for the issuance of thematic bonds in line with international standards and best practices, different types of thematic bonds and their characteristics, benefits of issuing these types of bonds, and global and regional landscape for the development of this market.
The online workshop for Banfondesa on 4 July 2023 was attended by 34 representatives of the bank, including members of the board of directors and executive committee. A subsequent evaluation resulted in positive feedback. Participants noted that the objectives of the workshop were achieved and expressed satisfaction with the organized, useful, and interesting content.
The workshop with Banco BHD, which took place on 20 July 2023 at the Dominican Association of Multiple Banks, was attended by nine employees from the Risk Management, Treasury and Corporate Business departments. A post-event survey revealed a high level of satisfaction. The participants expressed their willingness to participate in similar events. The workshop on 4 August 2023 for Banco Caribe was attended by 13 employees from various departments. The participants unanimously confirmed the clarity, organization and relevance of the workshop.
These workshops were developed as part of GGGI's Global Trust Fund on Sustainable Finance Instruments: Scaling-up Thematic Bond Markets in Developing Countries initiative that is funded by the Government of Luxembourg, which aims to deliver pre- and post-issuance and credit enhancement support to potential issuers that leads to thematic bond issuances in developing countries.
