Yes Bank plans to raise funds for green bond

Yes Bank is planning to raise around $100 million from International Finance Corporation (IFC), a project report issued by IFC revealed. The investment by World Bank´s investment arm comprises $50 million for a so-called Green Bond and an equal amount for the financing line for women-owned small and medium enterprises (SMEs), the IFC´s project disclosure report said. This will be the first emerging market Green Bond investment by IFC, the proceeds of which will be lent to eligible climate change finance projects in the renewable energy sector. The long term funding will be on terms that are consistent with the underlying cash flow profile of such long gestation and capital intensive projects. IFC said the investment is aimed at generating support and confidence in the Green Bond market.