Bank of China Limited, one of China’s biggest state-owned commercial banks, has listed $770 million worth of first green bonds on Nasdaq Dubai.
The listing coincides with the 10th anniversary of the start of the Belt and Road project.
The bonds are the world’s first Belt and Road Initiative-partner-themed green notes, with the listing coinciding with the 10th anniversary of the start of the Belt and Road project, the Dubai-based global financial exchange said in a statement.
Bank of China’s Luxembourg and Dubai branches launched bonds worth $270 million and $500 million, respectively. Each of the bonds has a three-year term.
The proceeds will be allocated to fund green projects in BRI partner countries with selected eligible projects in the UAE, Saudi Arabia, Portugal, Austria, Bulgaria, and Poland.
The new listing has taken the total value of debt listed on Nasdaq Dubai to $119.39 billion.
(Writing by P Deol; Editing by Anoop Menon)
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