BAKU, Azerbaijan, September 22
By Nargiz Sadikhova - Trend:
Eurasian Development Bank (EDB) has successfully placed an issue of three-year "green" bonds at Kazakhstan Stock Exchange (KASE), Trend reports citing the EDB.
The value of the placed bonds is 20 billion tenge ($47.05 million), and the coupon rate is 10.5 percent per annum).
The placing fully complies with the principles of "green" bonds. Investor demand exceeded the volume of the bonds placed. The investors were local Kazakh banks, financial companies, investment companies, as well as private investors.
The Bank plans to use the funds raised to finance ESG projects in Kazakhstan. At the moment, the Bank has developed a new internal corporate policy in the field of environmental and social responsibility and corporate governance, which establishes the rules and procedures for evaluating investments according to ESG criteria. The Bank has also formed the Policy for the issuance of green and social debt instruments allowing to place bonds for ESG projects and report to investors on the use of attracted funds.
The Eurasian Development Bank (the “EDB” or the “Bank”) is an international financial institution established to promote economic growth in its member states, extend trade and economic ties among them, and support integration in Eurasia through investment.
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