Issuance of biodiversity-themed bonds from Garanti BBVA

Garanti BBVA announced the issuance of a biodiversity-themed bond. The proceeds will be directed towards the protection of marine biodiversity in the Mediterranean basin. Garanti BBVA made history in Turkey by issuing a Biodiversity Blue Bond, focusing on the protection of marine ecosystems. According to the announcement, the total transaction size was $20 million 215 thousand, and the issuance, with a maturity of 3 years, was successfully completed. This innovative "biodiversity financing" tool, one of the few examples globally, will provide resources for the protection and sustainable management of ecosystems in the Mediterranean basin. Bond revenues will be directed towards areas such as the promotion of sustainable tourism practices, responsible use of fisheries and marine resources, sustainable water management projects, and support for sustainable agricultural activities. Mahmut Akten, General Manager of Garanti BBVA, said the following on the subject: "We have completed our ...