April 14, 2026

Six sustainable finance transactions supported through programs implemented by the Global Green Growth Institute (GGGI) have been recognized seven times at the 2026 Environmental Finance Sustainable Debt Awards, highlighting the growing role of innovative financial instruments in mobilizing investment for climate action and sustainable development in emerging economies. 

The annual Environmental Finance Sustainable Debt Awards recognize leading transactions shaping global markets for green, social, sustainability, and sustainability-linked debt instruments. This year, seven transactions supported through sustainable finance programs implemented by GGGI received top honors for their innovation and impact. 

These programs include the Global Trust Fund on Sustainable Finance (GTF), established through a partnership between the Government of the Grand Duchy of Luxembourg and GGGI, and the Global Green Bond Initiative (GGBI), supported by the European Union under its Global Gateway strategy. Together, these initiatives support governments, cities, and financial institutions in accessing capital markets and developing innovative financial instruments that help finance climate and sustainable development investments. 

The award-winning transactions demonstrate how collaboration between governments, financial institutions, and international partners can help unlock private capital to support investments that benefit communities, strengthen resilience, and protect natural ecosystems. 

Award-Winning Transactions 

Social Loan of the Year: Republic of Ecuador – World’s First Affordable and Resilient Housing Loan (USD 500 million, December 2025) 

The Republic of Ecuador’s landmark social loan was recognized as Social Loan of the Year for financing climate-resilient housing for vulnerable communities through the government’s “Miti-Miti” housing program. 

“Ecuador has spent years proving that sustainable finance can be a powerful public policy tool with real impact on people’s lives. This international honor confirms that the ‘Miti-Miti’ program is far more than a market transaction — it is a commitment to ensuring the country’s most vulnerable families have access to safe, dignified, and affordable homes. Backed by a partial guarantee from the IDB, this operation will leverage USD 1.6 billion in mortgage portfolio financing for the construction of 21,000 homes.” said Sariha Moya, Minister of Economy and Finance of Ecuador.   

Green Bond of the Year – Local Authority/Municipality: City of Bogotá – Inaugural Green Bond (USD 600 million) 

The City of Bogotá’s inaugural green bond was awarded Green Bond of the Year – Local Authority/Municipality, recognizing the city’s efforts to mobilize capital markets to finance sustainable urban infrastructure and climate investments. 

The issuance represents a milestone for sustainable municipal finance in emerging markets and highlights how cities can leverage capital markets to support low-carbon urban development. 

“This award recognizes Bogotá for a bond issuance that sets a benchmark for other Latin American cities. It sends a clear signal that we can successfully mobilize international capital to tackle the climate crisis. The proceeds from this bond will transform mobility for millions of Bogotá’s residents and help us cut the emissions that are so vital to our planet’s future,” said John Javier Sarmiento Santana, Bogotá’s District Director of Public Credit. 

François Roudié, Ambassador of the European Union to Colombia, highlighted the EU’s commitment to this operation, which was supported through the Global Gateway initiative: 

“We are extremely pleased to see Bogotá receive this prestigious award for its green bond, which is exactly the type of instrument for which we created the EU’s Global Green Bond Initiative (GGBI): innovative, backed by robust and credible green standards, and delivering high-quality investment for people, communities and the planet. This award shows that strong partnerships between the European Union and local governments in Latin America can lead to sizeable investments for sustainable infrastructure — which is precisely the goal of Global Gateway”. 

Green Bond of the Year – Financial Institution (APAC): Commercial Bank of Ceylon – Landmark Green Bond 

Sri Lanka’s Commercial Bank of Ceylon received Green Bond of the Year – Financial Institution (APAC) for its green bond issuance supporting investments in renewable energy and other sustainable projects. 

“Being named ‘Green Bond of the Year’ reinforces our commitment to a sustainable future. This recognition confirms that we are on the right track with sustainable investments, particularly in renewable energy, which help scale climate finance across Sri Lanka. This transaction was further strengthened through our partnership with the Global Green Growth Institute (GGGI), whose technical assistance in developing our Sustainable Bond Framework reflects Commercial Bank’s ongoing journey towards responsible and sustainable banking,” said Sanath Manatunge, Managing Director / Chief Executive Officer of Commercial Bank of Ceylon (CBC)

Award for Innovation: DFCC Bank PLC – Sri Lanka’s First Listed Blue Bond 

Sri Lanka’s DFCC Bank PLC received the Award for Innovation for issuing the country’s first listed blue bond, supporting investments in the sustainable ocean economy and marine resource protection. 

Award for innovation – Green Bond Structure (APAC) & Green project bond of the year:   

SchneiTec Dynamic green bond worth USD 50 M to finance a 60 MW solar photovoltaic power plant in Cambodia. This solar plant is expected to contribute to the reduction of greenhouse gas emissions by 85,955 metric tons of CO2 equivalent annually while generating approximately 130 GWh of clean energy per year for the national grid and creating at least 450 green jobs. 

Award for Innovation Sustainability Bond Structure (Americas):

Banobras was recognized for its innovative sustainable bond structure with a gender perspective, supported by a bond framework fully aligned with the Mexican Sustainable Taxonomy. In the development of this landmark issuance, GGGI played a strategic role by leading the structuring of the reference framework and providing key technical tools that strengthened the design, credibility, traceability of projects and market positioning of the bonds

Expanding Sustainable Finance in Emerging Markets 

The recognition of these transactions reflects the broader expansion of sustainable finance markets across emerging and developing economies.  

Through its sustainable finance work, GGGI supports governments and financial institutions in building enabling frameworks, developing investment pipelines aligned with national climate strategies, and structuring financial instruments that connect capital markets with sustainable investments. 

Since 2015, GGGI has supported more than 30 sustainable finance instruments, helping mobilize approximately USD 12.8 billion in investment across multiple financing structures, including green, social and sustainability bonds, debt-for-nature swaps, and sustainable loans and credit facilities. 

These instruments are helping countries mobilize capital for projects ranging from renewable energy and sustainable infrastructure to climate-resilient housing and nature-based solutions. 

About the Global Green Growth Institute 

The Global Green Growth Institute (GGGI) is a treaty-based intergovernmental organization headquartered in Seoul, Republic of Korea. With more than 55 Member Countries, GGGI supports governments in designing and implementing policies, projects, and investments that promote low-carbon, resilient, and inclusive development. Since its inception, GGGI has mobilized USD 18.5 billion in green investment commitments through more than 600 advisory outputs, helping governments adopt over 300 green growth policies and deliver more than 3,400 capacity-building activities.