IFC supports green projects in Azerbaijani Manat with $20m bond

The International Finance Corporation (IFC), a member of the World Bank Group, has issued a four-year bond denominated in Azerbaijani manat (AZN) to raise 34 million AZN ($20 million).

The bond aims to expand access to loans for micro, small, and medium-sized enterprises (MSMEs) and fund green projects in Azerbaijan.

The bond, listed on the Luxembourg Stock Exchange, will help increase climate finance accessibility for businesses and low-income households, promoting environmentally sustainable initiatives. Standard Chartered Bank acted as the dealer for the issuance.

Keshav Gaur, IFC’s Director of Treasury Client Solutions, highlighted that the bond helps businesses access local currency financing, reducing the risks of foreign currency borrowing and supporting Azerbaijan’s economic diversification. Since 2020, IFC has raised over $189 million in AZN, offering lower interest rates to support long-term growth.

Attribution: IFC

Subediting: M. S. Salama