The European Bank for Reconstruction and Development (EBRD) has raised $700 million by issuing a dedicated climate resilience bond.
The proceeds from the five-year bond will be used to finance the Bank’s existing and new climate resilience projects. These will typically fall under one of three categories:
- Climate resilient infrastructure
- Climate-resilient business and commercial operations
- Climate-resilient agriculture and ecological systems
The proceeds from the issuance will be used to fund the EBRD’s existing and new climate resilience projects that are in line with the Climate Bonds Initiative. BNP Paribas, Goldman Sachs, and Skandinaviska Enskilda Banken AB acted as joint bookrunners, which saw demand from approximately 40 investors in 15 countries.