News
03 March 2020
IFC invests $200m in Standard Bank's green bond issuance
In:
Renewable energy, Traditional energy
Region:
Middle East & Africa
The International Finance Corporation has invested $200 million in The Standard Bank of South Africa's green bond, placed on the London Stock Exchange.
The ten-year green bond facility - Africa's largest - privately placed by IFC is compliant with the International Green Bond Principles and will enable Standard Bank Group’s Sustainable Finance Business Unit to on-lend to and finance climate-smart projects in South Africa such as renewable energy, energy efficiency, water efficiency and green buildings.
Projects funded by the green bond have the potential to reduce greenhouse gas emissions by 742,000 tonnes per year, or nearly 3.7 million tonnes over a five-year period, IFC estimates.
