The Asian Development Bank (ADB) announced it is issuing its first clean energy bond, in order to support its renewable energy projects in Asia and Pacific. The bond is expected to have four tranches, two denominated in Brazilian reals, one in Turkish lira and one in Australian dollars. ADB has committed to providing at least an equal amount of funding as raised by the clean energy bond. The issuance is targeted at Japanese retail investors, and will distributed in Japan by more than 20 securities companies.

According to ADB President, Haruhiko Kuroda, ADB regards clean energy as a crucial element in fighting poverty in the Asia and Pacific regions. Clean energy will allow the countries of these regions to achieve sustainable and inclusive economic growth. About USD 2 billion a year is being planned for clean energy investments, including technologies such as wind, solar, hydro and geothermal. Additionally, the funding will also target energy efficiency projects in the industry, commercial and residential sectors.

[source: ADB]