Climate Finance | September 24, 2019

ERBD raises $700 million to finance climate resilience projects

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, September 24 – The European Bank for Reconstruction and Development provides investment capital and advisory support on development initiatives across the Middle East, Southern and Eastern Europe and Central Asia. Accelerating climate change adaptation and mitigation is a core focus for the bank, which already has €30 billion in green investments under its belt.

A new $700 million bond issuance will ramp up ERBD’s investments in “climate resilience” projects that help countries upgrade their energy infrastructure, bolster food and agriculture systems, and initiate water conservation strategies. Forty investors in 15 countries backed the four-year bonds.

“This is a major step forward in the development of capital market instruments that can crowd in private finance at scale for climate resilience,” ERBD’s Craig Davies said in a statement.

BNP Paribas, Goldman Sachs, and Sweden’s Skandinaviska Enskilda Banken helped ERBD raise the funds.