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The UAE’s First Abu Dhabi Bank (FAB) has issued its second blue bond, a $20 million, three-year issuance, with proceeds earmarked to boost climate conscious marine projects.
The latest issuance comes after FAB’s inaugural blue bond in August, bringing its total blue bond issuances to $70 million.
The lender has said proceeds will also be used to support wastewater treatment facilities across Abu Dhabi and Al Ain, and a desalination facility powered by renewable energy sources.
Blue bonds are designed to promote investment in marine conservation and enhance blue carbon ecosystems.
(Writing by Bindu Rai, editing by Seban Scaria)
