Wasco’s Post

EBRD Supports Green Finance Facility For SMEs In North Macedonia The European Bank for Reconstruction and Development (EBRD) has greenlit a €7 million senior unsecured loan for Sparkasse Bank AD Skopje, marking a significant step towards boosting green investments in North Macedonia. The financing, provided under the Green Finance Facility (GFF), will be disbursed in two tranches: €2 million and €5 million, respectively. The primary objective of this initiative is to allocate 100% of the loan’s proceeds towards Renewable Energy (RE) and Energy Efficiency (EE) projects, supporting the country’s transition to a green economy. SMEs (Small and Medium Enterprises) in North Macedonia will benefit from sub-loans aimed at enhancing their […] Read the full story here: https://lnkd.in/dph8_Sbj #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #ebrd #europe #europeanbankforreconstruction&development #greenfinance #northmacedonia #renewableenergy #sparkassebankadskopje

#Oman is positioning itself to be regional leader in sustainable green financing official says Oman Aims to Lead Gulf in Sustainable Green Financing with Vision 2040 Reforms Oman is positioning itself as a leader in green financing in the Gulf region, according to Mahmood Al Aweini, Secretary General of the Ministry of Finance. As part of its Vision 2040 agenda, Oman has launched a sustainable finance framework, developed eight hydrogen production areas, and attracted major global energy players. The country has also established a 2 billion Omani rial fund to boost investment in small and medium-sized enterprises, key for economic diversification. https://lnkd.in/dBW5wbSw #GreenFinance #SustainableFinance #GreenFund

BNDES Secures $1.7 Billion from Asian Banks for Sustainable Investments in Brazil Geraldo Alckmin Aloizio Mercadante China Development Bank Asian Infrastructure Investment Bank (AIIB) #Investments #Impact #SustainableInvesting #BankingIndustry #Business #SustainableFinance

#Oman is positioning itself to be regional leader in sustainable green financing official says Oman Aims to Lead Gulf in Sustainable Green Financing with Vision 2040 Reforms Oman is positioning itself as a leader in green financing in the Gulf region, according to Mahmood Al Aweini, Secretary General of the Ministry of Finance. As part of its Vision 2040 agenda, Oman has launched a sustainable finance framework, developed eight hydrogen production areas, and attracted major global energy players. The country has also established a 2 billion Omani rial fund to boost investment in small and medium-sized enterprises, key for economic diversification. https://lnkd.in/dBrqRMi3 #GreenFinance #SustainableFinance #GreenFund

🇲🇾Congratulations to Wasco for establishing its maiden Sustainable & Transition Finance Framework, the first of its kind in ASEAN, and executing its first sustainability-linked loan amounting to USD25 million under this Framework. The Framework is pioneering in ASEAN because it specifies sustainability-linked format, aside outlining use of proceeds, and is aligned with the Technical Screening Criteria of the latest ASEAN Taxonomy for Sustainable Finance (Version 3), and International Capital Market Association (ICMA) Climate Transition Finance Handbook. Maybank Investment Bank acted as the Sole Sustainability Adviser, while Maybank in Singapore is the sole lender. Michael Oh-Lau CEO of Maybank Investment Banking Group said, “This Framework provides clarity and confidence to Wasco and banks to finance decarbonisation initiatives. We are proud to collaborate with Wasco in developing solutions and contributing towards greening supply chains in the energy sector.” Well done and thank you to all parties involved! Read more about Wasco’s Sustainable & Transition Finance Framework in The Star - https://lnkd.in/gFmwifg5 #TransitionFinance #MaybankGlobalBanking #HumanisingFinancialServices

DBS’ sustainable financing commitments reach $70 billion Summary: DBS Bank's sustainable financing commitments have risen to about $70 billion by end-2023, an increase from $51 billion in 2022. This growth reflects DBS's commitment to sustainable financing and an increased share of sustainable lending in its portfolio. DBS facilitated nearly $18 billion in ESG bond issuances, showcasing its role in sustainable investment. Sustainable financing encompasses green loans, sustainability-linked loans, and transition loans, such as a $180 million green loan for KWAP to refinance a green office tower in Australia. DBS is reducing its commitments to thermal coal power plants, in line with its 2021 announcement to eliminate thermal coal exposure by 2039, making it the first Singapore bank to exit this financing. Renewables now account for about half of DBS's power portfolio. Mr. Helge Muenkel, DBS's Chief Sustainability Officer, highlighted the bank's efforts to not only phase out thermal coal but also to explore strategies for early shutdowns of coal power plants, facing challenges like energy replacement and job impacts. This is part of the effort to meet the global warming limit of 1.5 degrees Celsius. DBS has engaged over 1,000 SMEs in sustainability training, focusing on capacity building and education for sustainable business practices. This includes collaborations to provide SMEs with technical support for using energy-efficient equipment or renewable energy. DBS recognizes the path to achieving its sustainability targets, including a net-zero target by 2050 with interim targets for 2030, may face challenges. It has set decarbonization targets in several sectors, aiming for significant emission reductions by 2030. DBS's sustainability journey underscores the vital role of financial institutions in promoting environmental sustainability and the transition towards a low-carbon economy. #DBSBank #SustainableFinancing #GreenInitiatives #ESG #RenewableEnergy #Decarbonization #ClimateAction

#MaybankGreaterChina has extended green trade financing to Sinohydro, a subsidiary of POWERCHINA, a state-owned-enterprise and Fortune 500 company, to construct ASEAN’s largest offshore wind power farm in Ca Mau, Vietnam. Dato John Chong, Group CEO of Global Banking at Maybank said, “Maybank is strategically positioned to facilitate cross-border transactions with our presence in China and all 10 ASEAN markets, and we also want to be at the centre of our clients’ transition journey.” Michael Foong, Country CEO of Maybank Vietnam said, “We have been connecting Vietnamese businesses to international investors as the country is poised for upgrade from Frontier to Emerging Market status.” Felino James Marcelo, CEO & Country Head of Maybank Greater China said, “Chinese-owned entities are diversifying into ASEAN to seek new growth opportunities as intra-Asia trade and investment flows continue to expand.” Well done to all parties involved in the transaction! Read more about the financing - https://maybank.my/4e8tuWe #MaybankGlobalBanking #ASEANrenewableenergy #ASEANtransition

PLN received the “Best Green Loan – Utility” Triple A Country Awards for Sustainable Finance 2024 award in Hong Kong last week. This is the second international award PLN’s Green Loan USD750 million transaction received during our Energy Transition journey. #PLN #sustainablefinance

EBRD Funds QNB Finans Leasing For Green Economy Investments In Turkiye The European Bank for Reconstruction and Development (EBRD) has approved a senior unsecured loan of up to EUR 25 million for QNB Finans Leasing in Turkiye. The funding, available in either EUR or TRY, is aimed at supporting green economy investments, including energy efficiency, renewable energy, and climate resilience measures under the Turkiye Green Economy Financing Facility II (GEFF II). QNB Finans Leasing will utilize the proceeds to provide lease financing to sub-borrowers undertaking green economy investments aligned with the GEFF II Framework’s technical eligibility criteria. This includes financing vendors and producers of eligible technologies covered by the Green Technology […] Read the full story here: https://lnkd.in/drZaSCJ9 #solarenergy #alternativeenergy #solarpv #pvsolar #photovoltaic #cleanenergy #cleantech #climatechange #middleeast #africa #india #asiapacific #asia #ebrd #europeanbankforreconstructionanddevelopment #greeneconomy #middleeast #renewableenergy #solarenergy #turkey #turkiye

The government-owned infrastructure finance firm, REC Limited, has raised $500 million through the issuance of five-year green bonds in its $10 billion Global Medium-Term Program. This five-year note offers a 4.75% semi-annual coupon rate and is the first US dollar bond issued by an Indian public sector company in 2024.   The proceeds will be directed towards eligible green projects under REC’s Green Finance Framework, the Climate Bonds Initiative’s green bond principles, and RBI’s ECB guidelines, with a second-party opinion from Sustainable Fitch.   In April, REC secured a green loan of ¥60.5 billion (approximately $387.6 million) from SACE, an Italian export credit agency, to fund various green projects in India.   Want to deep dive? For premium market intelligence and insights, explore VCCEdge (link in the comment section 👇)   #SustainableFinance #GreenBonds #SustainableInvesting #VCCEdge #KeyDevelopment Vivek Dewangan