IBEC participates in a new green bonds issuance
International Bank for Economic Co-operation acted as a co-underwriter for the issue of green bonds of the Russian Center-Invest Bank. The securities were placed in the sustainable development sector of the Moscow Exchange in the amount of RUB 300 million. The issue meets the highest requirements for this type of instrument, formulated in the International Capital Markets Association (ICMA) - Green Bond Principles. The Issuer guarantees that the funds raised will be used to finance energy efficient projects in industry, agribusiness, housing, communal services and other sectors.
This is the second issue of green securities by Center-invest, the first one took place a year ago and became the first green placement on the Moscow Stock Exchange, providing a reduction in carbon dioxide emissions in the amount of 4.6 thousand tons. According to the forecasts of the issuer's representatives, the environmental effect this time will be equivalent to a reduction in emissions of 6.4 thousand tons of CO2.
IBEC once again supported the environmental program of the Russian bank by purchasing 10% of the issue. These investments are in line with the Bank's strategy and the UN Sustainable Development Goals. IBEC, as a multilateral development institution, provides assistance to initiatives in the field of green finance in the territory of the participating countries, supporting various formats for promoting "green" projects in the economy.