The International Finance Corporation (IFC), a member of the World Bank Group, successfully raised US$500 million to finance climate friendly projects, including energy efficiency and renewable energy projects, in emerging markets using a new green bond in the US.
27 April 2012: The International Finance Corporation (IFC), a member of the World Bank Group, has raised US$500 million for climate-friendly investments through the launch of its first green bond in the U.S. market.
The bond was issued to increase investments in renewable energy, energy efficiency and other climate-friendly projects in emerging markets. The US$500 million in funds from the green bonds will be held in a separate account created for the specific purpose of investing in such projects. With this financial mechanism in place, various public and private sector institutions can directly invest in climate-friendly projects. [IFC Press Release]