Amid rising interest rates and growing geopolitical unpredictability, governments refinancing debt can face high costs and tough choices about how to fund vital sustainability projects. Over the past year, Bank of America, winner of the 2025 Energy Risk Sustainable finance house of the year award, has developed financing structures that mitigate the squeeze on financing costs and development aid.

A $1 billion sovereign debt refinancing completed in December 2024, for example, is set to channel