Colombia has taken a significant step towards biodiversity conservation by issuing its first biodiversity bond with IFC and BBVA Colombia. On July 12, 2024, Colombia places biodiversity bond issued by Banco Bilbao Vizcaya Argentaria Colombia S.A. (BBVA) Colombia and the International Finance Corporation (IFC) subscribing to Colombia\’s first biodiversity bond, raising $15 million for environmental projects with a proposed subscription of upto $35 million. The bond is expected to total $70 million over three years and will be used to finance projects that support biodiversity in Colombia.