Asian Infrastructure Investment Bank (AIIB) has participated in the private placement of $100mn of five-year sustainable eurobonds by Uzpromstroybank, Uzbekistan’s second largest bank. The international lender has invested $25mn in the issuance.
The funds raised are to be used to finance green projects, including in energy efficiency, cutting greenhouse gas emissions, sustainable construction, water security and financing for small and medium sized enterprises (SMEs) and women-led initiatives. The issuance is the first sustainable bond seen under Uzpromstroybank’s sustainable finance framework, aligned with the green and social bond principles of the International Capital Market Association.
AIIB invested in the placement alongside the World Bank Group's International Finance Corporation (IFC), the German Investment and Development Corporation and the Austrian Development Bank.
In 2019, Uzpromstroybank became the first Uzbek bank to enter the international capital markets, with a $300mn eurobond placement on the London Stock Exchange. The latest placement is the bank’s second placement on an international exchange.
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