During the National Infrastructure Congress in Cartagena, Colombia, the Mayor’s Office of Bogotá, together with the International Finance Corporation (IFC) of the World Bank Group, CAF (Development Bank of Latin America and the Caribbean), and the Delegation of the European Union in Colombia, celebrated the successful issuance of Bogotá’s first international green bond and highlighted its impact on the city’s development. The green bond, recently announced in Colombian pesos for an amount equivalent to US$600 million (COP 2.3 trillion), attracted demand of COP 3.1 trillion—1.34 times the amount offered—and allocated 93.4% of the issuance to international investors.
This response underscores global market confidence in Bogotá’s fiscal management and leadership in urban sustainability. A press conference was held during the Congress to discuss the bond’s structure, benefits, and potential impact. IFC and CAF acted as anchor investors, helping to mobilize international private capital, diversify funding sources, and position Bogotá as a pioneer in sustainable municipal finance. Goldman Sachs and BNP Paribas served as the structuring banks for the issuance.
Bogotá’s Mayor, Carlos Fernando Galán, highlighted how the proceeds from the bond will support key sustainable mobility projects, including the Bogotá Metro, the San Cristóbal and Potosí aerial cable lines, and the new Calle 13 TransMilenio corridor. These investments are expected to reduce congestion, cut travel times by more than 70% especially for low-income communities eliminate 158,900 tons of CO₂ emissions annually, and contribute to Bogotá’s goals of becoming more inclusive, efficient, and climate-resilient.
The green bond is the first international green bond issued by a municipality in Latin America. Its success demonstrates the ability of subnational governments to access international markets and finance high-impact social and environmental projects through public-private collaboration and advisory support. Mayor Galán said, “We celebrate the market’s confidence and international support for Bogotá’s fiscal management and sustainable vision. This green bond is a key tool to transform mobility and quality of life in the city.”
Elizabeth Martínez de Marcano, IFC Regional Director, added, “Bogotá shows how subnational entities can optimize limited fiscal space, complement sovereign resources, and mobilize private capital at scale. This transaction exemplifies IFC’s commitment to innovative models that maximize private capital mobilization for job creation and sustainable development.”
Ángel Cárdenas, CAF Infrastructure Manager, noted, “Subnational governments are decisive actors for sustainable development in Latin America and the Caribbean. Bogotá’s issuance shows how a city with a long-term vision can attract international capital and finance projects that transform mobility and urban resilience.”
François Roudié, EU Ambassador to Colombia, commented, “Colombia was the first country in Latin America to adopt a green taxonomy similar to the EU’s, which facilitates investment and reflects close cooperation on green finance. We hope these foreign and multilateral investments will encourage further Colombian investment in sustainable initiatives.”
The green bond is backed by Bogotá’s Green, Social, and Sustainable Bond Framework, officially launched in October 2024 with support from the European Union and the Global Green Growth Institute. Of the total issuance, 93.4% went to international investors, while 6.6% was allocated to local investors. The projects financed by the bond will promote cleaner, more efficient, and inclusive urban mobility, directly benefiting millions of residents and advancing the city’s climate and social objectives.
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