Tag: IFC

IFC Investment to Promote Green Construction and Job Creation in the Middle East and Africa

Stuart Mitchell

IFC, a member of the World Bank Group, is providing a $15 million loan to MAN Enterprise Group, an engineering, procurement, and construction Group headquartered in Luxembourg and operating in MENA and Europe, through its subsidiaries MAN Holding Limited and MAN Holding sal. The loan will help the group grow its operations across the Middle East and Africa, supporting private sector development and job creation. It will also help the group undertake new projects to establish its presence in different countries, build its internal capacity for climate-friendly technologies, and improve…

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IFC Invests in Natura’s Bond to Improve Sourcing of Bioingredients from the Amazon

Stuart Mitchell

IFC, a member of the World Bank Group, announced its support to Natura to promote sustainable sourcing, which will promote the bioeconomy in the Amazon and contribute to the protection and regeneration of the Amazon Forest. IFC’s investment will also contribute to boost local economy and communities and support agroforestry sustainable supply chains in the forest. IFC invested BRL 300 million in a Sustainability Linked Bond (SLB) issued by Natura in the form of debentures. This is the first SLB with sustainability performance targets linked to Amazon sourcing in Brazil, and…

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IFC and IFRS Foundation announce partnership to improve sustainability reporting in emerging markets

Stuart Mitchell

The International Finance Corporation (IFC), a member of the World Bank Group, and the IFRS Foundation have signed a Memorandum of Understanding agreeing their strategic partnership to strengthen sustainable capital markets by improving sustainability and climate reporting in emerging markets and developing economies (EMDEs). The collaboration was announced during London’s Climate Action Week. Martine Valcin, IFC Global Manager, Corporate Governance and ESG Advisory, Knowledge and Learning, said: Today marks a pivotal moment as we join forces with the IFRS Foundation in advancing sustainability and climate reporting. Our combined efforts are…

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IFC to Finance Brookfield’s Bikaner Solar Power Project, Boost India’s Renewable Energy Capacity & Support Climate Goals

Stuart Mitchell

To support India in scaling up its renewable energy capacity, International Finance Corporation (IFC) has committed to part finance a ~550 MWp solar power project in Bikaner, Rajasthan being developed by Brookfield Asset Management (NYSE: BAM, TSX: BAM) (“Brookfield”) with $105 million through long-term non-convertible debentures allocated to the project’s special purpose vehicles, which are implementing the project. Following its commitment, Brookfield will provide solar power to commercial and industrial (C&I) consumers across India at more competitive tariffs through long-term power purchase agreements (PPAs) and contribute to the nation’s decarbonization…

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Emerging Market Green Bonds Report 2023: Green bonds issuance in emerging markets increased 34% in 2023

Stuart Mitchell

Amundi, the leading European asset manager, and IFC, a member of the World Bank Group, today published the sixth edition of the Emerging Market Green Bonds Report that provides developments in the green bonds market for emerging markets and developing economies (EMDEs). The report focuses on green bonds issuances in EMDEs as well as the overall sustainable bonds market’s growth, perception and outlook. Against the backdrop of broadly favorable financial market developments, the overall market for sustainable finance in EMDEs staged a rebound in new debt issuance during 2023 on…

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