Environmental Finance Sustainable Debt Awards judges chose a series of bonds issued by the Mexican Ministry of Finance and Public Credit that raised MXN40 billion ($2.2 billion) as the winning submission for this year's sovereign sustainability bond of the year.

The bonds were structured in accordance with Mexico's recently updated Sovereign Sustainable Finance Framework, which establishes the criteria for identifying and selecting Eligible Sustainable Expenditures aligned with the Sustainable Development Goals (SDGs).

Proceeds will be allocated on a notional basis to finance green and social expenditures across eligible SDG-categories under the framework, with a focus on regions with higher levels of social lag and vulnerable populations in Mexico.