Tag: IFC

IFC Partners with the Banking Association South Africa to Boost Climate Finance

Stuart Mitchell

IFC is joining forces with the Banking Association South Africa (BASA) to help increase climate finance in the country and pave the way for a transition to a low carbon economy. Under the new agreement, IFC will provide advisory support to strengthen the climate risk assessment, mitigation, and adaptation practices of South Africa’s banks, and help them reduce their exposure to climate change-related risks. The partnership will also promote investment in green, climate-friendly assets, in line with the country’s National Development Plan and its commitments to the Paris Agreement. The…

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IFC and IDEI announce green bond issuance for 800 million pesos to promote sustainable construction in Mexico

Stuart Mitchell

The International Finance Corporation (IFC), a member of the World Bank, and Internacional de Inversiones (IDEI), a developer of sustainable real estate projects, announced the issuance of a green bond for 800 million pesos (around US$45 million dollars) in order to promote sustainable construction in Mexico. The bond will contribute to the development of green financing for construction in Mexico, while strengthening the country’s climate financing market by promoting the broader adoption of certified sustainable construction and green financing standards. The issuance, carried out in two series (500 and 300…

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IFC Issues CAD 1 Billion Green Bond to Fund Climate Friendly Projects in Emerging Markets

Stuart Mitchell

IFC issued a benchmark three-year green bond, raising 1 billion Canadian dollars, to unlock private investment to support climate-friendly projects in emerging markets.  The proceeds of the bond will finance eligible projects under IFC’s Green Bond Framework, including renewable energy, energy efficiency, green buildings, clean transport, and biodiversity conservation, ocean and water protection. The trade attracted orders over 1.5 billion Canadian dollars, generating strong interest from a broad range of investors from around the world, including central banks, official institutions, bank treasuries and asset managers. “The CAD 1 billion trade…

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IFC’s Base of the Pyramid Platform Provides $1 Billion to Expand Access to Finance for Small Businesses

Stuart Mitchell

IFC, a member of the World Bank Group, announced a $400 million increase and one-year extension of the Base of the Pyramid (BOP) platform – an initiative first launched in 2021 to help financial services providers deliver critical funding to small and informal businesses, and low-income households. The additional financing, which brings IFC’s total investment to $1 billion, will ensure much-needed liquidity for lenders in the most vulnerable markets and expand support to underserved segments of the population, including women and women-owned businesses. With an average loan size of $1,149…

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Pinsent Masons advises IFC on multimillion green and social bond issuance in Indonesia

Stuart Mitchell

Multinational law firm Pinsent Masons has advised International Finance Corporation (IFC) on its $500m green and social bond investment in Indonesia. The firm advised IFC on all aspects of its first-of-a-kind investment in PT Bank BTPN Tbk’s $500m issuance of five-year green and social bonds. The investment supports the environmental and social financing goals of both institutions. BTPN, a subsidiary of Japanese banking giant, SMBC, will use funds raised by the issuance to grow its sustainable portfolio by funding projects that support renewable energy, energy efficiency, climate-smart agriculture, and sustainable…

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