Proparco a founding investor in fund for green bonds
France's Proparco has invested €50 million in the first fund for green bonds issued by companies in emerging countries.
This investment in the $538 million HSBC Real Economy Green Investment Opportunity (REGIO) fund makes Proparco one of its three founding investors. REGIO will invest in green bonds issued by private companies based in emerging countries in Asia, Africa and Latin America.
Over the next seven years, the fund will target projects that will support the ecological transition and develop new sustainable networks and infrastructure - such as energy, transport, water and sanitation - while promoting the transfer of technologies in these countries.
HSBC Asset Management will be the fund manager and the International Finance Corporation will provide technical assistance to advise the future issuers and boost the green bond market in emerging countries.
