The global market for green bonds has expanded rapidly in recent years\u2014totaling more than $100
\nbillion in 2016. But a huge gap persists: few banks in developing countries have issued such bonds.
\nIFC and Amundi expect the new fund to encourage more local financial institutions to issue green
\nbonds by increasing global demand and building local markets. Together, through a donor-funded
\ninvestment support facility led by IFC, they will work with local financial institutions to strengthen their
\ncapacity to issue green bonds, providing training and sharing international best practices with them.<\/p>\n
IFC will invest up to $325 million in the new Green Cornerstone Bond Fund, which will buy green Amundi was selected through a comprehensive and competitive process. The fund is the first product \u201cThis green-bond fund will lower the risk for the private sector and attract new investors \u2013 essentially Xavier Musca, Chairman of Amundi said: \u201cThis innovative partnership with IFC is a major achievement Initially, the fund will focus on countries and banks that have a high potential to issue green bonds\u2014 The Bank Group is a major issuer of green bonds. So far, the World Bank has issued $8.5 billion in IFC, a member of the World Bank Group, and Amundi, a leading
\nbonds issued by banks in Africa, Asia, the Middle East, Latin America, Eastern Europe, and Central
\nAsia.<\/strong> Amundi will raise the rest of the $2 billion from institutional investors worldwide and will provide
\nits services in managing emerging-market debt.
\nThe fund aims to be fully invested in green bonds
\nwithin seven years.<\/quote><\/p>\n
\nof a joint venture between IFC and Amundi aimed at developing green finance in emerging markets.<\/p>\n
\ncreating a market where there was none,\u201d<\/em> said IFC CEO Philippe Le Hou\u00e9rou. \u201cWe\u2019ve already
\nidentified dozens of banks in many developing countries around the world that could be interested in
\nthis fund. It\u2019s a win-win\u2014supporting the green economy and deepening access to international
\nmarkets for emerging market issuers.\u201d<\/em><\/p>\n
\nfor Amundi, the leading European Asset Manager. This project highlights the strong capabilities in green
\nfinancial innovation of Credit Agricole Group. I consider this project as a game changer: it is both an
\ninvestment opportunity for institutional investors and it will have an impact on society by accelerating
\nthe shift of emerging markets toward a green economy.\u201d<\/em><\/p>\n
\nbefore spreading into other markets. IFC will also provide first-loss coverage, helping to lower the risk
\nand mobilizing financing from the private sector. This will help ensure that the fund can operate in
\nmore challenging markets, including the poorest countries and conflict-affected areas.<\/p>\nThe fund will contribute significantly to the World Bank Group climate targets and IFC\u2019s goal of
\nincreasing its climate investments to 28 percent of investments made from its own account while
\nmobilizing an additional $13 billion a year in private financing by 2020.<\/quote><\/p>\n
\ngreen bonds in 18 currencies. IFC has issued $5.8 billion in 12 currencies. <\/p>\n","protected":false},"excerpt":{"rendered":"
\nEuropean Asset Manager, today agreed to create the largest green-bond fund dedicated to emerging
\nmarkets\u2014a $2 billion initiative that aims to deepen local capital markets and expand financing for
\nclimate investments. <\/p>\n","protected":false},"author":20,"featured_media":62609,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1470],"tags":[1655,1856,1859,1849,1826,1682,1681,1651,1711,1437,1691,1952,1685],"_links":{"self":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/62611"}],"collection":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/users\/20"}],"replies":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/comments?post=62611"}],"version-history":[{"count":0,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/posts\/62611\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media\/62609"}],"wp:attachment":[{"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/media?parent=62611"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/categories?post=62611"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/beta.next-finance.net\/en\/wp-json\/wp\/v2\/tags?post=62611"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}