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Latin America Eyes More Green-Bond Sales in Wake of COP26

  • Governments worldwide sold $90 billion in green debt this year
  • Most will likley tap overseas markets first, World Bank says

Finance Ministries across Latin America are rushing to tap the booming market for so-called green bonds in the wake of the United Nations COP26 summit, according to the World Bank.

Agreements reached at the event in Glasgow this month-- where nations agreed to combat climate change by halting deforestation and cutting the use of coal -- have accelerated the demand to issue debt whose proceeds are earmarked for environmental projects, said Rodrigo Cabral, senior financial officer for the World Bank treasury. The bank works with governments to structure the bonds.