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Green finance: New Development Bank to issue three billion RMB green bond

New Development Bank (NDB) is issuing its first green bond worth three billion RMB in the Chinese inter-bank bond market. This is the first time the multilateral development bank has issued a green bond under the guidelines of the People’s Bank of China. The bank will use proceeds raised from the bond to finance green projects in BRICS countries, including Brazil, Russia, India, China and South Africa. Issued in Chinese yuan, the bond will contribute to the development of capital markets in the member countries.

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