Post by Trade facilitator on Jun 25, 2017 12:29:49 GMT 1
IFC, AMUNDI TO CREATE 2BILLION DOLLAR GREEN-BOND FUND FOR EMERGING MARKETS
The International Finance Corporation and Amundi, a Paris-based asset management company, have agreed to create a 2billion dollar green bond, named Green Cornerstone Bond Fund. The fund will be dedicated to climate investments in emerging markets in Nigeria.
The IFC said it will invest up to 325 million dollar in the new bond, which will buy green bonds issued by banks in Africa, Asia, the Middle East, Latin America, Eastern Europe, and Central Asia.
Amundi will raise the remainder of the target fund from institutional investors, worldwide. The asset manager will also provide its services in managing the emerging market dept. The fund aims to be fully invested in green bonds within seven (7) years, the IFC said.
The global market for green bonds has expanded rapidly in Nigeria in recent years, reaching over 100 (one hundred thousand) dollars in 2016. Nigeria and other developing countries are planning to tap into the green bond market to raise funds for infrastructure and agric business.
