By Marcela Ayres

SAO PAULO (Reuters) -The Inter-American Development Bank (IDB) has raised $100 million with its first Amazonia Bond to tackle deforestation and boost support for local communities, and other countries are expected to follow suit soon, its chief told Reuters.

The five-year note will pay an annual coupon of 3.802%.

IDB President Ilan Goldfajn said the operation marks the beginning of a plan to issue up to $1 billion of the bonds “over time,” adding that Brazil’s government had told them it plans to issue similar bonds under the same framework, developed by the IDB in partnership with the World Bank.

Brazil’s Treasury, which issued its first sovereign sustainable bond in 2023 under a self-developed framework, said there are “studies underway” evaluating the issuance of Am

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