It is not a coincidence that Argentina’s Banco Galicia issued the country’s first private sector green bond as the government is implementing one of the aggressive renewable energy programme.
Behind the issue is a World Bank strategy to open up the way for more private financing for renewable energy and other sustainable projects.
On March 23, Banco Galicia concluded a $100m, seven-year green bond placement that was fully subscribed by the World Bank’s private sector financing arm, the International Finance Corporation (IFC).
