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The International Finance Corporation (IFC), the private sector arm of the World Bank Group, is investing up to $100 million in Jordan Kuwait Bank’s (JKB) second green bond and will also provide blended finance support of up to $690,000.
Proceeds from the issuance will be utilised for a range of climate-focused projects. The financing is expected to support investments that strengthen climate adaptation and resilience, a statement from IFC said.
The coupon on the transaction was not disclosed.
The current issuance follows Jordan's first green bond in 2023 through a partnership between IFC and JKB. Proceeds from that bond were directed towards green projects, including water and wastewater management initiatives, a critical priority for water-scarce Jordan.
(Writing by Brinda Darasha; editing by Seban Scaria)
