ADB to issue first clean energy bond

Fri Sep 3 2010, 09:51 AM

The Asian Development Bank (ADB) plans to launch its first Clean Energy Bond to support the development of projects in Asia and the Pacific. The bond is expected to be sold in four tranches, one to be denominated in Australian dollars, one in Turkish lira and the remaining two in Brazilian real. HSBC will arrange the issue, which will be targeted at Japanese retail investors. The ADB says it will at least match the amount raised through the bond sale.

A quarter of the population of Asia and the Pacific, around 800m people, lack access to basic electricity services, according to the ADB. The bank claims to have invested USD5bn between 2005 and last year in clean energy. The organisation aims to invest USD2bn per year in the sector by 2013.