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Uruguay Issues New Green Bond

The Uruguayan government issued a new bond tied to climate change indicators looking to raise US$800mn, market sources told daily El País.

The green bond, which has a 5.75% interest rate and matures in 2034, is linked to indicators for lowering greenhouse gas emissions and native forest preservation.

Paraguay’s public works minister Claudia Centurión pledged to develop flood defenses for the city of Ayolas in Misiones department, which was battered by hail and heavy rains during the past week.

“There’s a project that has been under development for several years at binational entity Yacyretá [the hydroelectric plant shared with Argentina], so now we’re joining in to identify which works are necessary for a first stage,” Centurión said in a release.

The ministry is currently carrying out a US$200mn project to build flood defenses for the city of Pilar in Ñeembucú.

The rains caused sections of the Paraná River to burst their banks and flood entire neighborhoods in the departments of Misiones, Alto Paraná, Itapúa and Ñeembucú, local news outlets reported

Source: Bnamericas