Group photo during Ring the Bell ceremony;
Credit: LuxSE
On Tuesday 20 January 2026, the Luxembourg Stock Exchange (LuxSE) hosted an official Ring the Bell ceremony to mark the listing of a sustainability bond issued by Banco de Ahorro y Crédito Fondesa, SA (BANFONDESA).
Representatives from BANFONDESA and LuxSE attended the event, which marked the listing of the Dominican Republic’s inaugural DOP 250 million (approximately €3.3 million) sustainability bond on the Luxembourg Green Exchange (LGX) at LuxSE.
The Global Green Growth Institute (GGGI) provided technical assistance for the transaction, while the Grand Duchy of Luxembourg supported the issuance through financing via the Global Trust Fund (GTF). The listing marks the first sustainability bond issued by a Dominican institution and reflects growing interest in sustainable investment in emerging markets, according to LuxSE.
“We are honoured to welcome BANFONDESA and its pioneering sustainability bond to the Luxembourg Stock Exchange. This transaction highlights the important role capital markets can play in mobilising private capital to support microfinance, green investment and social inclusion, and reaffirms our commitment to supporting issuers from emerging markets in accessing international investors,” said Arnaud Delestienne, Chief Commercial Officer and Member of the Executive Committee at LuxSE.
LuxSE noted that the bond proceeds will support microfinance and sustainable development in the Caribbean nation. The funds will finance micro and green loans across sectors including renewable energy, energy efficiency, sustainable transportation and agriculture. The bond will also support social projects aimed at promoting the growth of micro, small and medium-sized enterprises.
Initially listed on the Bolsa de Valores de la República Dominicana (BVRD) in November 2024, the bond was also expected to benefit vulnerable communities by improving access to essential services such as energy, water, housing, healthcare and education.
“This bond is not the end of a journey - it is the beginning of a new era that symbolises trust, partnership and the belief that inclusive green finance can transform lives in the Dominican Republic. We will continue to scale green lending, strengthen climate‑risk tools and deepen our partnership with the European Investment Bank and Luxembourg - a country whose leadership in sustainable finance is shaping real change on the ground,” said Cristian Reyna, Chief Executive Officer and Chairman of the Board of Directors at BANFONDESA.
The European Investment Bank (EIB) has partnered with BANFONDESA since 2008, providing financing to expand access to finance for low-income clients, particularly women, in the Dominican Republic. In 2018, the EIB further supported the institution through a senior loan to finance green projects under the African, Caribbean and Pacific (ACP) Cotonou Investment Facility and to support the creation of BANFONDESA Renovable. The loan was complemented by significant technical assistance to support women-focused and environmentally sustainable projects, helping pave the way for the issuance of BANFONDESA’s first sustainability bond.
