The International Finance Corp (IFC) private-sector arm of the World Bank has invested RON294 million (€59.6 million) in Romania‘s second green bond less than a month after backing its first to the tune of RON80.3 million (€16.3 million).
The multilateral lender today announced its latest financial package for the sustainable investments, both of which have been issued by the Raiffeisen Bank S.A. local operation which is part of the Austrian Raiffeisen Bank International group.
A press release published on the IFC website stated renewable energy and sustainable agriculture are among the uses for which the green bond proceeds will be spent, along with green buildings, energy efficiency and clean transport.
“If we are able to deliver sustainable financial solutions which enable our clients to cope with today’s and tomorrow’s huge challenges, we have a bigger chance to succeed in achieving our ambition to become the most recommended financial group in the near future,” said Steven Van Groningen, president and CEO of Raiffeisen Bank S.A. “With our second green bond issuance, we are continuing the path to mobilize capital for sustainable purposes, to integrate social and environmental considerations in risk management, to ensure progressive decarbonization of portfolios, and to include sustainability factors into key business areas.”
News Source:-pv magzine