2023-07-22 12:03:32
LA PAZ, (Xinhua) – Bolivia promotes actions from the financial perspective for the development of measures aimed at environmental sustainability, as well as cushioning the effects of the climate crisis, said the Minister of Economy and Public Finance, Marcelo Montenegro.
The minister mentioned two measures adopted by the government: one implemented by the Productive Development Bank (BDP), which authorized the Sustainable Bond Program, and another by the Central Bank of Bolivia (BCB), which established the Incentive Fund for the use of Electric and Renewable Energy.
The Sustainable Bond Program includes the first issuance of 50 million dollars in the national stock market, with the objective of financing investments aimed at environmental sustainability.
The Incentive Fund for the use of Electric and Renewable Energy channels loans in national currency to financial entities to grant credits that help replace the use of fossil energy with others that are more environmentally friendly.
«The climate crisis generates uncertainty in world economic activity and has its negative effects on the population’s food supply. In this context of climate crisis, water scarcity is exacerbating,” said the minister when participating in the XVI BCB Monetary Conference held in the municipality of Tiquipaya, department of Cochabamba (center).
He stressed that the climate crisis has an impact on world economic activity, by generating an increase in the prices of basic food goods and the inputs for their production.
For his part, the president of the BCB, Edwin Rojas, pointed out that central banks are evaluating innovative measures so that monetary policy is consistent with environmental sustainability.
“As concerns about climate change and sustainability increase around the world, central banks have recognized the need to integrate environmental considerations into their mandate and into the decisions they make to stabilize the economy and maintain financial stability,” he added.
Xinhua (xinhua-news.com)
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