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OPEC Fund Mobilizes $1 Billion for Development Financing
OPEC Fund for International Development mobilizes $1 billion for development finance with "groundbreaking" first SDG bond. The bond was priced based on the Sustainable Development Goals (SDG) bonds, for which Credit Agricole CIB served as the sole sustainability advisor.
OPEC states that these increased financial resources will allow it to intensify its work in partner countries and increase its development impact. / Picture: © Wikimedia Commons / Niels Elgaard Larsen [CC BY-SA 3.0 (https://creativecommons.org/licenses/by-sa/3.0)]
The three-year fixed-rate sustainability bond is met with strong demand from investors around the world and will be used to finance or refinance key sustainable development projects that are in line with the OPEC Fund's multi-sector development mandate and directly contribute to the achievement of the SDGs.
The bond attracted very broad interest, with 52 percent of investors…
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