The European Bank for Reconstruction and Development (EBRD) has invested USD 50m in green bond issued by QNB Finansbank. The transaction has been the first green bond investment made by the EBRD to a bank in the country. The 3-year maturity resource will be used to finance internationally certified green building projects in the bank’s portfolio.
“This transaction shows our bank’s diversification ability of international financing resources, investor confidence in our banks, solid financial bases and our performance while it also puts forward that we actively support green and sustainable credit allocation opportunities and have a clear sustainability strategy and roadmap,” said Temel Guzeloglu, CEO of QNB Finansbank.
“Our collaboration with the EBRD does not only serves to this common purpose, but also enables us to create a resource pool supporting shift to a sustainable and low-carbon economy,” he added.
The EBRD is one of the leading institutional investors in the country. It has invested over EUR 13bn in the country through 337 projects, while 96% of these projects are carried out by the private sector. The EBRD also responded to the COVID-19 by increasing its financing in the country to EUR 1.7bn in 2020 from EUR 1bn in 35 projects in 2019. Its investments are aimed to support the country’s post-COVID-19 recovery this year.