IFC sells second $1b global green bond

The International Finance Corporation (IFC) has issued its second $1 billion global green bond in less than a year and has been oversubscribed.

The bond was to support climate-smart investments in emerging markets, according to the World Bank Group private arm.

“Proceeds of IFC green bonds are used for private sector investments in renewable energy, energy efficiency, and other areas that reduce greenhouse gas emissions,” the IFC said after the bond issue November 5, 2013.

The sale brings IFC’s total green bond issuances to $3.4 billion.

In February, IFC issued a $1 billion green bond that was the world’s largest green bond issue to date.

IFC green bonds support projects to reduce greenhouse gas emissions—for example, by rehabilitating power plants and transmission facilities, installing solar and wind power, and providing financing for technology that helps generate and use energy more efficiently.

By Ekow Quandzie