IFC Invests up to IDR 2.75 trillion in Bank OCBC NISP’s Gender and Green Bonds to Empower Women Entrepreneurs and Women-Owned SMEs
IFC, a member of the World Bank Group, has announced an investment of up to IDR 2.75 trillion (equivalent to $200 million), in privately-placed gender and green bonds issued by Bank OCBC NISP as part of the bank’s Sustainability Bond Program. The proceeds from the gender bond will enable the bank to increase lending to women entrepreneurs and women-owned small and medium enterprises (WSMEs). The green bond will support the bank to expand green financing, particularly development of green projects and financing of green mortgages.
Bank OCBC NISP’s gender bond is the first ever in Indonesia, and second in Asia-Pacific, following Bank of Ayudhya’s Gender Bond issuance in 2019, also supported by IFC. The bank’s green bond, also fully sponsored by IFC, follows a successful first project in 2018, which has been fully deployed. With this new project, Bank OCBC NISP is expected to further grow its sustainable portfolio.