Beijing, Mar 25 (Agency) The BRICS New Development Bank (NDB) has issued three-year bonds worth five billion yuan ($765.3 million) in the China Interbank Bond Market, the bank announced on Thursday.
“On March 24, 2021, the New Development Bank (NDB) successfully priced a new 3-year fixed rate RMB 5 billion Bond in the China Interbank Bond Market. The Sustainable Development Goals (SDG) bond was issued under the UNDP Sustainable Development Goals Impact Standards for Bonds (UNDP SDG Standard) as well as the SDG Finance Taxonomy (China) and was issued as a part of the Bank’s RMB 20 billion Bond Programme in the China Interbank Bond Market,” the NDB said in a press release.
The bonds aim at financing the Emergency Program Loan worth 7 billion yuan to China, the first emergency assistance given by the NDB to the Asian country last March to support its economy heavily affected by the coronavirus pandemic. In July 2016, the NDB issued its first five-year “green bonds” valued at 3 billion yuan. Last year, the NDB registered its second bond program with the National Association of Financial Market Institutional Investors that allowed the bank to raise up to 20 billion yuan within two years from the program’s registration. The proceeds will be used to mobilize resources for infrastructure and sustainable development projects within BRICS and in other emerging economies and developing countries.