LONDON- Irish bank AIB has issued a 1 billion euro ($1.2 billion) green bond for the financing of low-carbon projects, it said on Wednesday.
Banks which issue green bonds use the funds raised to finance or re-finance eligible green projects such as renewable energy projects, low carbon offices and the construction of energy efficient homes.
AIB said it is the first Irish bank to complete an issue of green bonds.
"AIB's first green bond offers socially responsible investors an opportunity to support AIB as it continues to transition its business towards greater environmental sustainability," chief executive Colin Hunt said.
($1 = 0.8562 euros)
(Reporting by Nina Chestney; Editing by Kirsten Donovan) ((firstname.lastname@example.org; +44 (0) 020 7513 5674; Reuters Messaging: email@example.com))