Uruguay's Sovereign Sustainability-Linked Bonds (SSLB)
Inter-Ministerial SSLB Governance
Uruguay has developed the necessary institutional structure to assure a robust design and operationalization of SSLBs. The government convened a new inter-ministerial task force, the SSLB Working Group (BIICC, for its Spanish acronym). The group is composed of representatives from five ministries – Ministry of Economy and Finance, Ministry of Environment, Ministry of Industry, Energy and Mining, Ministry of Livestock, Agriculture and Fisheries and the Ministry of Foreign Relations. It is tasked with ensuring coordination among them, setting concrete and measurable goals, deadlines, and responsibilities, and ensuring that the targets are communicated and understood across the entire public-sector system throughout the lifetime of the bond. The SSLB Working Group will oversee the progress regarding estimation, monitoring, and timely reporting and external verification of the KPIs for the SSLBs.
Link to the Inter-Ministerial Memorandum of Understanding creating the SSLB Working Group