The European Investment Bank (EIB) has increased its green bond to €1.5bn (£1bn).
That’s a 0.5% rise from the bank’s initial Climate Awareness Bond (CAB) for November 2023.
The EIB claims it is the first institution to issue a green bond this year.
Green bonds enhance the transparency of climate finance and boost the debate on impact assessment methodologies allowing stakeholders to engage to improve in this field, it adds.
Eila Kreivi, Director and Head of Capital Markets Department at the EIB said: “Today’s issue underlines EIB’s endeavour to further enhance the liquidity of the Green Bond market, increasing its investor appeal. Being the first Green Bond issuer to tap the market at scale in 2016 reflects the importance and urgency of acting upon decisions made at COP 21.”