IslamicFinance.de

On November 27 the Islamic Development Bank (IDB) raised 1 billion euros in green sukuk. The 5-year sukuk was raised under IDB’s $25 billion sukuk programme and was priced at a profit rate of 0.037%. Proceeds from the issue will be channeled to climate change and green projects in IDB's 57-member countries. These include projects for renewable energy, clean transportation, energy efficiency, pollution prevention and control, environmentally sustainable management of natural living resources and land use and sustainable water and wastewater management. The joint lead managers and joint bookrunners for the sukuk were Citi, First Abu Dhabi Bank, HSBC, Landesbank Baden-Württemberg, Natixis, Société Générale, Warba Bank, and Standard Chartered Bank.