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MANILA, Philippines – Union Bank of the Philippines (UnionBank) has secured a $100-million investment from the International Finance Corp. (IFC) for its first sustainability bond, with proceeds earmarked to expand lending to micro, small and medium-sized enterprises (MSMEs) and finance more environmentally sustainable projects.
These include initiatives related to renewable energy, energy efficiency and green buildings.
READ: Explainer: What is IFC doing in the Philippines?
On Wednesday, the Aboitiz-led bank said the transaction marks another milestone in its partnership with the private-sector arm of the World Bank Group after IFC invested in its inaugural social bond in 2021.
