JUN
2024
Santo Domingo.- The Dominican Government, through the Ministry of Finance, published this Monday the first Green, Social, and Sustainability Bond Framework of the Dominican Republic, aligned with international standards, which will govern the issuance of financial instruments of this type by the public sector.
This milestone underlines the Government's firm commitment to environmental protection, social needs and sustainable development, as well as strict transparency in the use and management of funds.
The document considers among its eligible expenses, the financing of government projects aimed at transforming public transportation, to make it more sustainable and dignified; renewable energies; energy efficiency programs; the development of infrastructure and technologies for solid waste management, and supporting initiatives that ensure the sustainable management and conservation of the country's water resources.
In addition, the framework includes projects and programs on education, health, gender equality, among others, which target households classified in extreme and moderate poverty, as well as children and young people between 14 and 24 years old, farmers and the rural population.
The Minister of Finance, Jochi Vicente, explained that with the design and publication of the framework the Dominican government takes an important step towards a greater and better social and economic development, while diversifying the investor base of the debt portfolio.
“Today we are taking a great step in attracting capital that will allow us to promote areas that are so vital for the development of people such as health, drinking water and sanitation, transportation, among others,” Vicente explained.
Meanwhile, the Vice Minister of Public Credit, María José Martínez, after highlighting the importance of the publication of the document for the country, added that “we are determined to build a greener and more prosperous future for all Dominicans; An example of this is that as an integral part of the Debt Management Strategy we have considered the issuance of thematic bonds, through which we seek to establish a sustainable issuance program.”
This framework has been verified by Standard and Poor's, an independent entity with international reputation, whose technicians have validated that the categories within it are aligned with international standards. This verification reflects the strength of each of the categories considered.
The development of this framework is the result of a joint effort that included the active participation of different public sector institutions, mainly those that make up the Thematic Bond Commission, created by presidential decree and made up of the ministries of Finance; Environment and Natural Resources; Economy, Planning and Development; Energy and Mines; Public Health and Social Assistance; the Social Policies Coordination Cabinet, and the National Institute of Transit and Land Transportation.
After publication, the Government will carry out the first green bonds issuance, which funds will be associated to various eligible expenses considered in the categories reflected in the framework.
See the Green, Social, Sustainability Bond Framework
