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Our funding is socially conscious too

We have successfully issued the first social bonds tied to an infrastructure project in Latin America, the ‘Puerta de Hierro – Cruz del Viso’ roadway (Colombia).

This bond issuance, valued at $209 million (€174 million), is aligned with Sacyr’s 2021-2025 Strategic Plan, which anchors sustainability as the cornerstone for the company's actions. The issuance is backed by the U.S. agency Development Finance Corporation (DFC) and expires in 24 years, that is, May 2045.

The classification as social bond for the issuance, is preceded by an evaluation and analysis process by an independent third party (V.E.) that confirms the bonds alignment with a series of criteria defined by the ICMA (International Capital Markets Association) under the ‘Social Bond Principles 2020’.

Among other factors, they assess the positive impact that the project will bring to the communities close to the project’s influence area by means of the funds obtained through the issuance.

‘Sacyr Concesiones’, through the ‘Concesionaria Vial Montes de María’ develops the 4th Generation (4G) Puerta de Hierro-Palmar de Varela y Carreto-Cruz del Viso Project in the Sucre, Bolívar and Atlántico Caribbean departments. The 198-kilometer road corridor connects the main seaports and cities of the Colombian Caribbean.

 

 

Contribution to socio-economic development

Between the Bolívar and Sucre departments, stands the Montes de María subregion, an area historically devastated by illegal armed violence and displacement.

The project's execution has had a great positive impact on the area of influence of these three departments and has created more than 2,500 direct and indirect jobs at the height of its execution stage.

Close to 70% of the workers were locals. Therefore, the improvement operations on the corridor contribute to local socio-economic development and ease the transportation of merchandise and people.

Besides the project’s construction, we have boosted the region’s socio-economic development by supporting women. According to their culture, the women of this region are experts in weaving backpacks and hammocks, as well as agricultural production.

 

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