The European Investment Bank (EIB) has issued a new €500 million (£436m) green bond.

The EU’s bank announced the Climate Awareness Bond (CAB) last week. It is hoped to spur the market by giving long-term investors the opportunity to own a 21-year green bond in Euros for the first time.

Its launch follows the release of an independent report from tax and advisory firm KPMG offering assurance on EIB’s Green Bonds with regards to how they are managed, operated and allocated.

The bond was invested in by a range of sustainable firms, including Aegon Asset Management and Achmea Investment Management. Around 25% of investment came from Germany, 21% from France and 18% from the Netherlands.

In terms of what kind of companies invested, asset management firms, pension funds and insurance companies dominated, taking a combined 65% of the new green bond.

EIB’s total CAB issuance totalled at €15 billion (£13bn) across 11 currencies, of which €7.6bn (£6.62bn) was in Euros.

Eila Kreivi, Director and Head of Capital Markets Department at the EIB, said: “The response of long-end investors has been very strong despite the current low level of yields and spreads. This is a testimony to the value that EIB’s trustworthiness and detailed reporting have for impact investors.”