In a preferred green bond issue by Raiffeisen Bank in Romania that amounts to 400.6 million lei, the EBRD (European Bank for Reconstruction and Development) stated that it will invest 53 million (11 Million Euros).
The move is aimed at strengthening the EBRD’s leadership position in the green finance market and its support of the capital markets, according to the bank’s Tuesday press release.
EBRD’s Mark Davis, who is a regional director for Romania and Bulgaria stated that EBRD wants to remain a leader in the effort to reinforce the capital markets in Romania. Davis assessed the Raiffeisen bank’s move as a pioneering and one that will light the path for a much bigger support for sustainability.
With the 400.6 million lei in green bonds, Raiffeisen Bank Romania plans to fund projects that will provide smooth transitioning to an economy that is more sustainable and durable. The maturity of the bonds is set to five years and they have 3.086 percent of fixed coupon rate.
The green bonds are set to be part of the Bucharest Stock Exchange and the Luxembourg Stock Exchange.
Source: SeeNews