Local Instruments

CIFI’s financing strategy promotes a diversified funding structure through programs that enhance financial resilience. Capital market instruments issued in Panama help stagger debt maturities, expand the regional investors base, and, thanks to international agreements, facilitate cross-border issuance. These efforts improve access to capital and support investor diversification.

CIFI issues commercial paper in the Panama Stock Exchange as a short-term financing instrument to support its working capital needs and loan portfolio growth.  

These instruments give investors an opportunity to participate in infrastructure and energy development, a resilient asset class, while enabling CIFI to access local capital markets on a short-term basis. 

CIFI issues Corporate Bonds in the Panama Stock Exchange, with the added capability of reaching international markets through Euroclear Bank via phase II of the iLink connection. These instruments offer institutional and retail investors an opportunity to invest in a more liquid market and contribute to the region’s development through a structured, transparent, and supervised vehicle.

CIFI’s Corporate Green Bonds are financial instruments issued on the Panama Stock Exchange through a program registered with the Superintendency of the Securities Market of Panama. This program aligns with the Green Bond Principles of the International Capital Markets Association (ICMA) and is designed to promote transparency and information disclosure, while ensuring a measurable environmental outcome.

As part of this commitment to innovation and accessibility, the program also enables issuances through Euroclear Bank via Phase II of the iLink connection, expanding access to international investors.

Proceeds are exclusively allocated to financing eligible green projects, in accordance with CIFI’s Green Bond Framework. This framework defines the criteria a project must meet to qualify for funding under the program, ensuring alignment with the Green Bond Principles created by the International Capital Markets Association (IMCA).

Green bonds support high-impact projects that protect renewable energy resources while adhering to rigorous environmental and social standards. They contribute to the global Sustainable Development Goals, offer investment portfolio diversification, and align business strategies with climate action by backing more resilient, long-term projects.

CIFI diligently tracks the impact of projects financed through its Green Bond Program, measuring key outcomes such as avoided greenhouse gas emissions and the number of people with improved access to energy.