ADB raises $1.25b for climate projects

Dhaka,  Fri,  22 September 2017
Published : 02 Aug 2017, 20:27:36 | Updated : 02 Aug 2017, 20:30:39

ADB raises $1.25b for climate projects

ADB raises $1.25b for climate projects
The Asian Development Bank (ADB) has raised $1.25 billion to help finance climate change mitigation and adaptation projects with the issue of dual-tranche 5-year and 10-year green bonds.

"ADB is responding to the rapidly growing demand for green bonds with our second dual-tranche outing and our first 5-year green bond offering," said ADB Treasurer Pierre Van Peteghem.

"We have found the dual-pronged approach taken today to be an efficient means of reaching ethical investors active at different segments of the yield curve. This approach means that ADB is reaching an increasing number of investors who understand the importance of the green label," said Pierre Van Peteghem.

Proceeds of the green bonds will support low-carbon and climate resilient projects funded through ADB's ordinary capital resources and used in its non-concessional operations.

In 2015, ADB announced that it would double its annual climate financing to $6 billion by 2020.

ADB's support for climate change will rise to around 30 per cent of its overall financing by the end of this decade, according to BSS.

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