Province of Mendoza in Argentina places a new green bond

The Ministry of Finance from the Province of Mendoza, in western Argentina, has announced the placement of a new green bond for an amount in local currency equivalent to approximately 3.8 million dollars with the aim of financing the expansion of the sustainable urban transportation system called Metrotranvía. Therefore, completing the debt authorization for the Metrotranvía works in the 2023 Budget, which previously included the placement of a first green bond in June 2023 for nearly 20 million dollars.

The Metrotranvía project has objectives with positive environmental and social impacts that are aligned with the United Nations’ Sustainable Development Goals (SDGs), specifically SDG#3 (Health and Wellbeing); SDG#9 (Industry, innovation, and infrastructure); SDG#11 (Sustainable cities and communities); and SDG#13 (Climate Action). The Metrotranvía contributes to CO2 emissions reduction by representing a sustainable alternative to internal combustion means of transportation such as automobile and buses.