The European Bank for Reconstruction and Development (EBRD) has invested €11 million (£9.48m) in the first green bond issued by a bank in Romania.
It has been issued by Raiffeisen Bank Romania, which has raised €81 million (£69.8m) to finance climate and environmental projects.
The bonds have a five-year maturity and are the latest in the EBRD’s €9 billion (£7.7bn) overall investment in Romania to date.
Mark Davis, EBRD Regional Director for Romania and Bulgaria, said: “The EBRD remains at the forefront of efforts to strengthen Romania’s capital markets. Today we are pleased to back the country’s first green bonds.
“This pioneering move by Raiffeisen will pave the way for the creation of more securities intended to support sustainability, as the strong market reaction indicates.”