Reinforcing its position as a leader in green finance and a strong supporter of capital markets, the European Bank for Reconstruction and Development (EBRD) has invested 53 million lei (11 million euro equivalent) in a senior preferred green bond issued by Raiffeisen Bank Romania, a subsidiary of the Austria-based group Raiffeisen Bank International.
Thanks to healthy demand, Raiffeisen raised 400 million lei (81 million euro equivalent) to finance climate and environmental projects.
“The EBRD remains at the forefront of efforts to strengthen Romania’s capital markets,” said Mark Davis, EBRD Regional Director for Romania and Bulgaria. “Today we are pleased to back the country’s first green bonds. This pioneering move by Raiffeisen will pave the way for the creation of more securities intended to support sustainability, as the strong market reaction indicates.”
The EBRD aims to become a majority green bank and dedicate more than half of its work to climate finance by 2025.
“Through this issue, we want to reaffirm our commitment to contributing to the development of sustainable and prosperous communities by mobilising resources for projects that generate value for society as a whole and have a positive societal and environmental impact,” added Steven van Groningen, President and CEO of Raiffeisen Bank Romania.