Opening Asia for Russia

EDB subsidiary issues green bonds

14.08.2020 114 просмотров

EDB subsidiary AIFC Green Finance Centre, Ltd. organized the first issue of "green" bonds in Central Asia for 200 million tenge.


AIFC Green Finance Centre, Ltd., whose shareholders are the Eurasian Development Bank (EDB) and the AIFC Administration, organized the first green bond issue in Kazakhstan and Central Asia by Damu IDF JSC in the amount of 200 million tenge. 

The issue was made in the trading system of the stock exchange of the Astana International Financial Center (AIFC) with a coupon rate of 11.75% and a maturity of 3 years. AIFC Green Finance Centre, Ltd. provided an independent opinion (Second Party Opinion), according to which the issuer will use the funds raised and disclose information about their intended use in accordance with the international principles of "green" bonds.

In mid-July of this year, the EDB acquired a stake in AIFC Green Finance Centre, Ltd. JSC “Administration of the International Financial Center “Astana”. Thus, the Bank has expanded its activities in the field of green finance.

“In recent years, the EDB has gained successful experience in financing renewable energy, which allows the Bank to position itself as an active participant in the green finance market. Since 2017, the Bank has increased its participation in the implementation of renewable energy projects by 290 MW. The portfolio of new projects in 2019 amounted to 120 MW. The amount of financing for renewable energy projects is 553 million US dollars. The EDB is doing a lot of work in the field of green finance jointly with the AIFC,” said Amangeldy Isenov, Deputy Chairman of the Board of the EDB.

In 2019, the EDB developed and approved a program for financing projects in the field of renewable energy sources. The purpose of the Program implementation is to increase the Bank's portfolio of projects in the field of renewable energy sources and provide further support to member states in the development of green energy.

“The Bank intends to expand its activities in the green finance market, which will improve conditions financing for borrowers by attracting targeted funding from institutions specializing in green finance, as well as by further upgrading the EDB ratings,” Amangeldy Isenov emphasized.

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