ADB Anchors Georgia's First Sustainability Bond


(MENAFN- Trend News Agency) BAKU, Azerbaijan, August 10. The Asian Development bank (ADB) has invested $15 million as an anchor investor in a pioneering 3-year sustainability bond issuance by Joint Stock Company BasisBank (BasisBank), Trend reports via the ADB.

This bond marks the first certified sustainability bond issued by a commercial bank on the Georgian Stock Exchange, designed to fund green and social sector initiatives.

ADB's investment forms a significant portion of BasisBank's $20 million bond issuance, with the remainder raised from private investors. The bond adheres to a sustainability bond framework aligned with the International Capital Market Association's Sustainability Bond Guidelines, with validation provided by Det Norske Veritas. The issuance was arranged by TBC Capital and Galt & Taggart.

As the fourth-largest bank in Georgia, BasisBank is a leading provider of financing to small and medium enterprises. It manages a loan portfolio of 2,684 million lari and operates through 39 branches, serving approximately 200,000 customers across the country.

Follow the author on X: @Lyaman_Zeyn

MENAFN10082024000187011040ID1108539372


Trend News Agency

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.