Dominican Republic launches initiative to mobilize US$100 million for blue economy
The Dominican Republic is promoting an initiative to mobilize US$100 million in investment for projects focused on watershed restoration, sustainable water management, sanitation, climate resilience and the conservation of marine and coastal ecosystems across the Caribbean.
The initiative is being led by the Ministry of Environment and Natural Resources, the Superintendency of the Securities Market (SIMV) and the Global Green Growth Institute (GGGI) through Bluecar. It was presented during the meeting “Blue Economy and Capital Market: Opportunities for Securities Issuers,” with support from the Government of South Korea.
A Bluecar call for proposals was also launched to identify capital market entities eligible to receive GGGI technical assistance for structuring and issuing blue bonds in the Dominican Republic.
Eligible projects include watershed protection, water and sanitation management, ecosystem restoration, climate-resilient infrastructure, circular economy, sustainable tourism, port activities, responsible fishing and sustainable aquaculture.
Environment Minister Paíno Henríquez said the initiative seeks to connect available capital with projects capable of generating environmental and economic benefits. He emphasized that protecting watersheds is essential to water security and sectors such as agriculture, industry and tourism.
The Dominican Republic has already gained experience with sustainable finance. In June 2024, it issued its first US$750 million sovereign green bond, which attracted demand six times greater than the amount offered. Of the resources allocated, approximately US$142.5 million went toward efficient and resilient water and wastewater management projects.
As part of the new technical assistance program, Banco BHD and Scotiabank were selected to develop thematic bond frameworks. Their projects represent the first US$10 million toward the US$100 million investment target.
The Bluecar initiative aims to accelerate the development of a sustainable blue economy in the Caribbean, particularly in the Dominican Republic and Saint Lucia, while supporting climate resilience and sustainable economic growth.
