IFC invests in first green bond in Jordan to boost climate finance, spur growth

IFC invests in first green bond in Jordan to boost climate finance, spur growth

AMMAN — The International Finance Corporation’s (IFC) pioneering investment in Jordan’s first green bond will help fund green projects in the country, addressing growing climate challenges and supporting sustainable economic growth, according to an IFC statement on Sunday.

 

IFC is investing up to $50 million in the five-year bond, issued by leading private sector bank Jordan Kuwait Bank (JKB). The financing comprises up to $36 million from IFC’s own account, and a blended finance co-investment of up to $10 million from the Canada-IFC Blended Climate Finance Programme and $4 million from the Dutch-funded MENA Private Sector Development Facility, both implemented by IFC.