The International Finance Corp (IFC) has invested in China Bank’s “green bond,” its CEO Philippe Le Houérou told ANC Friday.

China Bank has issued its first green bond raising $150 million to fund the fresh wave of “environmentally beneficial” projects to help fight climate change.

“This bond affirms our long-term commitment to sustainability. We are glad to partner with IFC on our first green bond issuance to step up our green lending activities and further contribute to a sustainable economy,” China Bank President William Whang said in a separate letter addressed to the stock exchange.

IFC is one of the world’s largest financiers of projects seeking to curb climate change woes in developing countries, the statement said.

Source: ABS-CBN