International Bank for Economic Co-operation continues to implement its plans to support green economy and social and environmental infrastructure projects. The Bank took part in the placement of a green bond issue by the Romanian group Globalworth. Against the background of the high interest from investors – the total volume of applications exceeded the 400 million issue by 2.5 times – IBEC purchased securities in the total amount of EUR 7 million. Bonds maturing in 2026 were placed with a yield of 3.4% per annum.
Globalworth specializes in the management of office, logistics and industrial real estate in Central and Eastern Europe, primarily in Romania and Poland. The portfolio of assets under management exceeds EUR 3 billion, the group's clients are more than 700 companies, Globalworth shares are listed on the London Stock Exchange. The proceeds from the placement of the securities will be used to develop office infrastructure in the Romanian capital Bucharest, with an emphasis on meeting modern environmental standards.
Globalworth's securities will become an integral part of the IBEC's “development portfolio”, which includes assets that meet the Bank's strategic goals and contribute to the social and economic development of the member states. Green investments is one of the key priorities for IBEC as a multilateral development institution. The Bank intends to continue prioritizing the development and financing of the "green economy" both in the participating countries and at the global level, in accordance with the UN Sustainable Development Goals.