Fedecrédito, a coalition network of financial intermediaries including credit unions, workers' banks and insurers, has won two awards at the Environmental Finance Sustainable Debt Awards – the Award for innovation – use of proceeds and Social project bond of the year – for its social bond.

The bond marks the first social bond of El Salvador. With $80 million bond issuance and an initial tranche of $40 million, it has a seven-year tenor.

Focusing on use of proceeds, the judges praised it for providing liquidity, expansion, job creation and economic stability, as well as increasing lending capacity.

The bond is positioned towards gender equality, as it provides accessible credit for women-led micro-, small- and medium-sized enterprises and housing loans for vulnerable women, for homeownership and housing improvements. It developed a social bond framework with a gender focus, aligning with the International Capital Market Association (ICMA) Social Bond Principles.