By Marisa Wong
Morgantown, W.Va., Dec. 8 – BDO Unibank Inc. announced it issued its first green bond for $150 million. IFC is the investor of the bond, according to a Friday press release.
This is the first green bond issued by a Philippine commercial bank, the issuer said. This is also IFC’s first green bond investment in a financial institution in East Asia and the Pacific.
The bond will provide an alternative source of long-term green financing in the Philippines and contribute to the country’s target of reducing carbon emissions by 70% by 2030. Specifically, proceeds will be used exclusively to finance climate-smart projects, including renewable energy, green buildings and energy-efficient equipment.
BDO is a Makati City, Philippines-based bank. IFC is a member of the World Bank Group.
| Issuer: | BDO Unibank Inc.
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| Issue: | Green bond
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| Amount: | $150 million
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| Investor: | IFC
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| Announcement date: | Dec. 8
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