IFC puts USD 150m in green bond by Indonesian bank
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The International Finance Corporation (IFC) said today it has invested USD 150 million (EUR 128m) in the first ever green bond issued by a commercial bank in Indonesia.
The five-year green bond was issued by PT Bank OCBC NISP Tbk (IDX: NISP) and will be used by the bank to finance climate related projects.
According to IFC, a member of the World Bank Group, the issuance is expected to spur the development of the green bond market in Indonesia. "IFC is in discussions with other players and keen to provide investment and advisory support to help develop green financing products in the country," said IFC's chief executive Philippe Le Houerou.
The institution noted that the World Bank aided the Indonesian government's issue of the first ever sovereign green sukuk bond. Indonesia sold USD 1.25 billion in green bonds in February.