The Asian Development Bank (ADB) has raised 3 billion Indian Rupees (INR), about $47 million, from a new issue of offshore Indian Rupee-linked bonds to help finance climate change mitigation and adaptation projects in India.
Today’s fundraising represents ADB’s maiden Indian Rupee green bond and shows the institution’s long term commitment to financial market development in India, said ADB Treasurer Pierre Van Peteghem. In today’s markets, green bonds are an increasingly important source of financing for climate change projects and given ADB’s strong engagement in the capital markets of developing Asia, it is a natural next step for ADB to issue green bonds in local currency. Read More…
Credit By : Business Standard
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