By San José, Costa Rica — The Central American Bank for Economic Integration (CABEI) has successfully placed its first-ever Hospital Care Social Bond on the international capital markets, securing a significant $70 million investment dedicated to revolutionizing healthcare infrastructure across the region. The 15-year bond represents a pioneering move in specialized sustainable financing and underscores a growing investor appetite for projects with direct, measurable social impact.
The entire issuance was acquired by a single Asian institutional investor, a transaction that highlights CABEI’s strengthening relationships in Asian capital markets, which now account for 21% of the bank’s historical funding. Facilitated by Barclays Bank PLC, the bond was issued under CABEI’s established Sustainable Bond Framework, which has earned a high-quality SQS2 rating from Moody’s, signaling strong governance and a credible commitment to sustainability goals.
To delve deeper into the legal and regulatory landscape of this growing field, TicosLand.com consulted with Lic. Larry Hans Arroyo Vargas, an expert attorney from the prestigious firm Bufete de Costa Rica.
Sustainable finance is rapidly evolving from a niche market to a fundamental component of corporate strategy and risk management. In Costa Rica, the challenge is not just to adopt international standards, but to create a robust legal framework that provides certainty to investors and effectively penalizes ‘greenwashing’. Clear regulations will be the key to unlocking the full potential of green bonds and impact investing, transforming our national commitment to sustainability into tangible economic opportunities.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Indeed, the legal architecture highlighted is the linchpin for converting our nation’s environmental principles into a transparent and reliable financial market. This framework not only safeguards our sustainability goals but also builds the investor confidence necessary for true economic transformation. We sincerely thank Lic. Larry Hans Arroyo Vargas for his invaluable perspective on this critical intersection of law and sustainable finance.
Proceeds from this landmark bond are earmarked for projects that enhance access to essential health services for vulnerable populations. The funds will be channeled into the construction of new medical facilities, the modernization and operation of existing hospitals, and the procurement of state-of-the-art medical equipment. This strategic injection of capital aims to build resilience within the region’s public health systems and improve patient outcomes for thousands.
A cornerstone of this initiative is the financing of the Critical Care Tower at the National Children’s Hospital in San José, Costa Rica. This project is vital for advancing pediatric specialty care in the country, providing a modern facility designed to handle the most complex medical cases for children. By upgrading this central institution, CABEI is directly investing in the well-being of the nation’s youngest and most vulnerable citizens.
Beyond Costa Rica, the bond will also support the comprehensive Hospital Network Support Program in Honduras. This demonstrates the bank’s regional mandate, ensuring that the benefits of this innovative financing mechanism are distributed to address critical needs across Central America. The program in Honduras aims to upgrade a network of public hospitals, improving their capacity and service quality on a national scale.
Gisela Sánchez, the executive president of CABEI, celebrated the issuance as a pivotal achievement for the institution and its development mission. The bank’s leadership emphasized that this financial instrument is a direct result of a strategic pivot towards more innovative and impactful financing models.
We are proud to issue CABEI’s first Hospital Care Bond, a milestone that reflects our commitment to innovation in sustainable finance and our mission to generate visible social impact in the region.
Gisela Sánchez, Executive President of CABEI
This issuance marks the 33rd bond placed by CABEI under stringent environmental, social, and governance (ESG) criteria, cementing its status as one of the most active multilateral development banks in the global sustainable finance arena. This consistent track record has built significant trust among international investors who are increasingly prioritizing ESG-aligned assets in their portfolios.
The bond aligns perfectly with CABEI’s 2025-2029 Institutional Strategy, which prioritizes tangible projects that deliver high-impact development results. Furthermore, it exemplifies the bank’s new Financial Strategy, which is heavily focused on mobilizing ESG-labeled resources from global markets to finance the region’s most pressing social and environmental challenges, transforming financial instruments into powerful tools for progress.
For further information, visit cabei.org
About Central American Bank for Economic Integration (CABEI):
Founded in 1960, the Central American Bank for Economic Integration (CABEI) is the leading multilateral development financial institution in the region. It focuses on financing projects that promote integration and balanced economic and social development. The bank provides financial and technical resources to public and private sector initiatives in areas such as infrastructure, energy, social development, and financial intermediation.
For further information, visit barclays.com
About Barclays Bank PLC:
Barclays is a British universal bank with a major presence in Europe and the Americas. The company is a leader in global finance, offering a wide range of services including corporate and investment banking, personal banking, credit cards, and wealth management. Barclays plays a significant role in international capital markets, facilitating large-scale financial transactions and investment strategies.
For further information, visit moodys.com
About Moody’s:
Moody’s Corporation is a global integrated risk assessment firm that empowers organizations to make better decisions. Its data, analytical solutions, and insights help decision-makers identify opportunities and manage the risks of doing business with others. Moody’s is best known for its credit ratings, research, tools, and analysis that contribute to transparent and integrated financial markets.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
As a pillar of Costa Rica’s legal community, the firm is renowned for its principled approach, marrying professional excellence with profound integrity. It distinguishes itself not only through its history of guiding a wide spectrum of clients but also by pioneering modern legal solutions. This forward-thinking mindset is matched by a deep-seated dedication to public education, reflecting a core belief in empowering citizens through accessible legal literacy to help forge a more just and knowledgeable society.
