DR1 Daily News - Dominican Republic

Banco de Ahorro y Crédito Fondesa, S.A. (Banfondesa) has issued the country’s fist sustainable bond as an investment alternative for pension funds. The issuance is valued at RD$500 million. The Presidency says this is a significant step for the Dominican Republic’s economy due to its widespread social impact.

The Risk Classification and Investment Limits Commission (CCRyLI) cleared the first sustainable bond issuance as an investment alternative for pension funds.

The Superintendency of Pensions (SIPEN) announced that Resolution No. 265 from CCRyLI cleared the public offering instrument for pension fund investments called the “Sustainable Bond Issuance Program” from Banco de Ahorro y Crédito Fondesa, S.A. (Banfondesa).

Francisco A. Torres, the Superintendent of Pensions, stated that pension funds can now invest in sustainable bonds, which will primarily contribute to job creation...