Apicorp’s debut Green Bonds raise $750m

Apicorp’s debut Green Bonds raise $750m

The Arab Petroleum Investments Corporation (Apicorp), a multilateral development financial institution focused on the energy sector, announced that it has successfully raised $750 million from its debut green bonds. 

 

The US-denominated five-year benchmark issuance, the first green bond in the Mena region issued by an energy-focused investment institution, was nearly three times oversubscribed, garnering $2.2 billion in orders from more than 80 institutional and sovereign investors.

 

All projects funded by Apicorp using these green bonds will be aligned with the United Nations Sustainable Development Goals (SDGs), with a focus on renewable energy, green buildings, pollution prevention and control, and low-carbon technologies and solutions.

 

A designated Green Bond Committee (GBC) will oversee the evaluation process of the projects to ensure their compliance with Apicorp’s recently launched ESG and Green Bond Frameworks, alignment to best practices, and that they support local and national energy sustainability strategies. 

 

In addition, Apicorp plans to issue an Annual Green Bond Report on the environmental impact of the bonds to ensure stakeholder visibility. 

 

Commenting on the success of the bonds, Dr Ahmed Ali Attiga, CEO of Apicorp, said: “The shift to more sustainable energy solutions is no longer an option, it is a must, and we at Apicorp are here to accelerate