Sunday 18 February 2018 ,
Sunday 18 February 2018 ,
Latest News
  • UN expects fair polls in Bangladesh
  • Students demand revision of quota system in govt jobs
  • Zainab killer handed four death sentences
  • BNP begins signature collection from mass people
  • UPDF activist shot dead in Khagrachhari
3 August, 2017 00:00 00 AM
Print

ADB raises $1.25b for climate projects

BSS

The Asian Development Bank (ADB) has raised $1.25 billion to help finance climate change mitigation and adaptation projects with the issue of dual-tranche 5-year and 10-year green bonds, reports BSS.

“ADB is responding to the rapidly growing demand for green bonds with our second dual-tranche outing and our first 5-year green bond offering,” said ADB Treasurer Pierre Van Peteghem.

“We have found the dual-pronged approach taken today to be an efficient means of reaching ethical investors active at different segments of the yield curve. This approach means that ADB is reaching an increasing number of investors who understand the importance of the green label,” said Pierre Van Peteghem.

Proceeds of the green bonds will support low-carbon and climate resilient projects funded through ADB’s ordinary capital resources and used in its non-concessional operations. In 2015, ADB announced that it would double its annual climate financing to $6 billion by 2020. ADB’s support for climate change will rise to around 30 per cent of its overall financing by the end of this decade.

Out of the $6 billion, $4 billion will be dedicated to mitigation through scaling up support for renewable energy, energy efficiency, sustainable transport, and building smart cities, while $2 billion will be for adaptation through more resilient infrastructure, climate-smart agriculture, and better preparation for climate-related disasters, according to the ADB.

The 5-year bond has an issue size of $750 million, a coupon rate of 1.875 per cent per annum payable semi-annually and a maturity date of 10 August 2022. It was priced at 99.531 per cent to yield 16.3 basis points over the 1.875 per cent US Treasury notes due July 2022.

Comments

Poll
Today's Question »
Students from different universities yesterday protested quota in govt jobs and said reservations should come down to only 10pc. Do you support the demand?
 Yes
 No
 No Comment
Yes 90.0%
No 10.0%
No Comment 0.0%
Most Viewed
Digital Edition
Archive
SunMonTueWedThuFri Sat
010203
04050607080910
11121314151617
18192021222324
25262728

Copyright © All right reserved.

Editor : M. Shamsur Rahman

Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Editor : M. Shamsur Rahman
Published by the Editor on behalf of Independent Publications Limited at Media Printers, 446/H, Tejgaon I/A, Dhaka-1215.
Editorial, News & Commercial Offices : Beximco Media Complex, 149-150 Tejgaon I/A, Dhaka-1208, Bangladesh. GPO Box No. 934, Dhaka-1000.

Disclaimer & Privacy Policy
....................................................
About Us
....................................................
Contact Us
....................................................
Advertisement
....................................................
Subscription

Powered by : Frog Hosting