Strengthening the initiatives of the Central Bank of Bolivia in sustainable finance, to consolidate its role in the transition towards low-carbon and climate-resilient economies

Project Description:

The project aimed to support the Central Bank of Bolivia (BCB) in strengthening its sustainable finance initiatives, consolidating its role in the transition to a low-carbon and climate-resilient economy. Specifically, it sought to prepare the BCB to lead the process of developing the future national taxonomy of sustainable finance through the analysis of financial flows, the development of a system of indicators aligned with the SDGs and NDCs, and the formulation of a strategic action plan.

Methodology: The consultancy combined technical analysis, strategic institutional review, and the active participation of key stakeholders in the Bolivian financial ecosystem. A comprehensive assessment of the BCB's institutional capacities was conducted, identifying strengths, weaknesses, and opportunities for improvement. Subsequently, a mapping of financial flows aligned with the NDCs and SDGs was carried out, followed by the definition of key economic, social, and environmental indicators and the design of a comprehensive methodology for their collection and reporting. Based on these inputs, an institutional Action Plan was formulated, which included policy proposals, incentives, and regulatory guidelines, as well as internal and multi-sectoral training workshops.

Results / Deliverables / Key Achievements:

• Positioning of the BCB as a key player in the national sustainable finance ecosystem.

• System of indicators for monitoring and evaluating the role of the BCB in sustainable finance.

· Action plan and roadmap for positioning the BCB in the future national taxonomy.

• Internal training workshops for BCB technical staff and multi-sectoral dialogue spaces