Politics

EU issues its first-ever green bond worth 12B euros

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The EU has sold its first-ever green bond to record demand, taking its first step to potentially become the biggest issuer of environmentally-friendly debt with a record-sized deal, Report informs referring to Reuters.

The 15-year green bond raised 12 billion euros ($13.9 billion) and received more than 135 billion euros of demand, the European Commission said, making it the largest green bond launch and the highest level of demand for a green bond sale to date.

The bond, which will finance member states’ environmentally beneficial projects as part of the bloc’s COVID-19 recovery fund, is the first step for the EU – which aims to be carbon-neutral by 2050 – towards becoming a leading force in the fast-growing green debt market.

Thirty percent of the EU’s up-to 800 billion euro COVID-19 recovery scheme, which gives grants and loans to member states until end-2026, will fund environmentally beneficial projects.

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