15:53 GMT +330 April 2017
Live
    The World Bank Group headquarters bldg. in Washington, D.C.

    World Bank Group’s IFC to Create $2Bln Climate Fund for Emerging Markets

    © Wikipedia/ Shiny Things
    Business
    Get short URL
    424732

    The World Bank Group’s International Finance Corporation announced that the company and an asset management firm Amundi agreed to establish a $2 billion green-bond fund, which would finance climate investment.

    WASHINGTON (Sputnik) — The World Bank Group’s International Finance Corporation (IFC) announced in a press release that the company and an asset management firm Amundi agreed to establish a $2 billion green-bond fund, which would finance climate investment.

    "IFC, a member of the World Bank Group, and Amundi, a leading European Asset Manager, today agreed to create the largest green-bond fund dedicated to emerging markets," the release stated. "[A] $2 billion initiative… aims to deepen local capital markets and expand financing for climate investments."

    According to the release, IFC will allocate nearly $325 million in the new Green Cornerstone Bond Fund, which will purchase green bonds issued by banks around the world. Amundi will be responsible for raising the rest of the $2 billion from global institutional investors.

    In order to minimize risks, the fund will start with well-developed, stable countries that would likely to issue green bonds and then will move toward working with challenging and war-affected areas, the release explained.

    The companies set a goal for the fund to be completely invested in green bonds before 2024.

    Related:

    Ukraine's Economy Recovering Modestly, Reforms Still Needed - World Bank
    World Bank Condemns Explosion at IMF's Paris Office, Confirms Staff Safe
    World Bank Says Chinese Economy Will Slow Down Gradually, Grow at 6.5% in 2017
    Tags:
    IFC, World Bank
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment