Morocco: Proparco, IFC invest in green bond
Issue 349
- 30 Jun 2017
| 1 minute read
France’s Proparco and the International Finance Corporation (IFC) are investing €35m ($38m) and €100m respectively in the first green bond issuance by Banque Centrale Populaire (BCP) to promote sustainable, environment friendly projects in the kingdom. This is Morocco’s first green bond issuance in foreign currency, and IFC and Proparco’s first green bond investment in the region.The ten-year maturity bond will be used to provide long-term funding for BCP to refinance investments in renewable energy projects.
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