{"id":88418,"date":"2024-12-04T00:00:00","date_gmt":"2024-12-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2024\/12\/04\/the-cif-is-lining-up-a-usd-500-mn-bond-issuance-to-support-developing-countries\/"},"modified":"2024-12-04T00:00:00","modified_gmt":"2024-12-04T00:00:00","slug":"the-cif-is-lining-up-a-usd-500-mn-bond-issuance-to-support-developing-countries","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2024\/12\/04\/the-cif-is-lining-up-a-usd-500-mn-bond-issuance-to-support-developing-countries\/","title":{"rendered":"The CIF is lining up a USD 500 mn bond issuance to support developing countries"},"content":{"rendered":"

CIF lines up a USD 500 bond issuance:<\/strong> The Climate Investment Fund (CIF) is readying an issuance of USD 500 mn of bonds to raise funds for investments in renewables and new climate tech in developing countries over the next five to ten years, Bloomberg<\/a> reports. The issuance will be the first for the fund\u2019s newly finalized issuance program the Capital Markets Mechanism (CCMM<\/a>) that CIF hopes it would unlock up to USD 74 bn in finances<\/a>. <\/p>\n

(** Tap or click the headline above to read this story with all of the links<\/strong> to our background and outside sources.)<\/p>\n

The rationale: <\/strong>By issuing bonds, the fund aims to leverage its capital and positive credit ratings to attract financing that could be then used to invest in emerging markets\u2019 climate transition. \u201cIt\u2019s about being smarter with our capital basis\u201d and creating a \u201cmultiplier effect\u201d for capital, CIF\u2019s Tariye Gbadegesin told Bloomberg. This will enable the fund to go \u201cfrom being a finite pool of donor funding\u201d to an institution able to independently raise funds and take high risk investments at low cost, Gbadegesin added. It is a form of \u201cfinancial engineering\u201d that could provide a new model of financing for other multilateral funds and institutions, Bloomberg said. <\/p>\n

SOUNDS SMART-<\/strong> CIF\u2019s solid credit ratings and strong balance sheet would allow it to secure debt-based funding whose cost are lower than if emerging markets\u2019 issued the bonds themselves. The move is seen as an innovative way to mobilize private sector investment in climate projects at a time in which wealthier nations has grown more hesitant to provide the needed additional financing for developing nations, Bloomberg reported. <\/p>\n

This has been in the works:<\/strong> CIF listed its bond issuance program on the London Stock Exchange a few weeks ago<\/a>, marking the final step in the design and structuring of the CCMM program first announced at COP26. The program aims to use the fund\u2019s strong balance sheets to mobilize USD 75 bn from private capital to finance climate action in developing countries and from frontloading reflows from CIF\u2019s Clean Technology Fund (CTF). <\/p>\n

ADVISORS-<\/strong> The bond issuance is managed by BNP Paribas, HSBC, BofA Securities, and TD Securities. The World Bank and the African Development Bank will be acting as CIF\u2019s trustees, and the latter is set to take over as the host of the fund\u2019s Secretariat.<\/p>\n","protected":false},"excerpt":{"rendered":"

The proceeds from this issuance are intended to drive investments in renewable energy<\/p>\n","protected":false},"author":1,"featured_media":88419,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[84],"tags":[83,11,49,164],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-88418","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseclimate","tag-green-bonds","tag-green-finance","wpautop","entry"],"acf":{"mongo_id":"0808af5f-513a-4438-8754-852021765c8c","order":"6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/11\/2428.jpg","photo_position":"above","homepage_title":"","full_issue_title":"The 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