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Belize Gets International Recognition in Environmental Finance

Belize has been recognized internationally by Environmental Finance. Environmental Finance is an online news and analysis agency that focuses on reporting in areas of sustainable investment, green finance and the people and companies active in environmental markets. Belize has been given two awards for this year, namely, the Bond Award in Innovation Bond Structure and the Bond Award for Sustainability Bond of the Year (Sovereign). According to the report, and we quote, “The $364 million bond could serve as a blueprint to finance other emerging market countries’ climate objectives without adding to their indebtedness, according to Swiss bank Credit Suisse, its underwriter. The need for such a bond followed the Caribbean country of Belize suffering heavily in 2020 due to the impact of Covid-19 on tourism – a sector which accounts for 40% of the nation’s GDP.” End of quote. The report went on to quote the Managing Director of Credit Suisse, Ramzi Issa, who noted that, “Investors found that the transaction had very compelling underlying financial and environmental outcomes, whereby the benefits from the transaction were spread across a number of civil, economic and environmental stakeholders.”