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European Investment Bank increases green bond to 1b euros
[LONDON] The European Investment Bank (EIB) said it has increased its 500 million euro green bond to 1 billion euros (S$1.5 billion), showing the increasing importance of green bonds in raising money for low-carbon schemes.
Green bonds are debt instruments designed to raise funds for renewable energy and energy efficiency projects.
The EIB's so-called Climate Awareness Bond matures in 2037 issue and pays an annual coupon of 0.5 per cent, the bank said in a statement.
The EIB is the largest green bond issuer to date, with a total of 16.7 billion euros raised.