Symbiotics Investments Supports Sustainable Agricultural and Climate-Adapted Financing in Ecuador by Arranging a Green Bond for Banco Solidario
Symbiotics Investments has arranged a $7,500,000 green bond to channel lending towards Banco Solidario in Ecuador, a specialized microfinance bank catering to micro-entrepreneurs and workers.
With the issuance of this green bond, Banco Solidario will enhance sustainable agricultural and climate-adapted financing. It also showcases its ability to align with the internationally accepted International Capital Market Association Green Bond Principles “ICMA GBP”, increasing the attraction of international financiers.
As part of their green strategy, Banco Solidario works with YAPU Solutions, a company offering digital tools for improved risk management, including climate indicators. YAPU performs periodic audits of the portfolio to certify the green loans. In this process, Banco Solidario identified 25 climate solutions for Ecuador.