(SeeNews) – Aug 13, 2014 - The International Finance Corporation (IFC), a member of the World Bank Group, yesterday issued the first green bond on the Peruvian market, raising PEN 42 million (USD 15.1m/EUR 11.3m).
The proceeds will be applied in environment-friendly investments in emerging markets, IFC said yesterday.
Peruvian insurance company RIMAC Seguros was the sole investor in the 20-year bond, thus becoming the first insurance company in Latin America to put money into green bonds. JPMorgan was the lead manager of the transaction.
IFC issues green bonds for private sector investments that support renewable energy and energy efficiency projects, and to develop the green bond asset class. Apart from this issue, the entity has also issued green bonds in the offshore Chinese renminbi markets, as part of the strategy to develop the green bond asset class in emerging markets. IFC has issued a total USD 3.6 billion in green bonds since 2010.