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Add to Preferred SourcesIFC, a member of the World Bank Group, has issued its inaugural Indonesian Rupiah Komodo green bond, attracting strong investor demand and raising 2 trillion IDR—the equivalent of $134 million in U.S. currency—to combat climate change.
This is the first such green Komodo offshore Rupiah-denominated issuance by a multilateral development bank for investment into climate projects in Indonesia. The strong interest from a diverse group of international investors is testament to the growing appetite for socially responsible investment in Indonesia.
The five-year green bond, which will be listed on both the London Stock Exchange and the Singapore Stock Exchange, will support the local-currency market in Indonesia, funding the first-ever green bond issued in Indonesia by an IFC client, Bank OCBC NISP. The proceeds will finance underlying infrastructure and climate-related projects, in accordance with Green Bond Principles.
“The issuance of IFC’s green Komodo bond underscores our commitment to support Indonesia in achieving environmentally sustainable economic growth,” said Nena Stoiljkovic, IFC’s Vice President for Asia and the Pacific. “The bond allows us to mobilize international funding into Indonesia’s climate-friendly projects and we intend to replicate and scale up this model to address the country’s climate challenges.”
Since launching the Green Bond Program, IFC has raised billions of dollars for clean energy, climate-smart cities, green buildings and green finance.
Original source: IFC
Published on 8 October 2018