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China Construction Bank (CCB) has listed USD 600 mn in green bonds on Nasdaq Dubai, according to a statement. The listing brings the value of issuances by CCB on Nasdaq Dubai USD 2.45 bn. The issuance takes the value of CCB’s bonds on Nasdaq Dubai to USD 2.45 bn, and the total value of ESG-related bonds on the exchange to USD 27.05 bn.
CCB will use the capital to boost green projects in the UAE and the region, including renewables, desalination, energy efficiency, and reducing emissions.
China Construction Bank is active in other green markets in the Gulf too: Saudi Arabia’s Acwa Power secured a USD 100 mn revolving credit facility from the Chinese lender in July to boost its power and water generation portfolio across the Middle East and the Belt & Road countries. The two also partnered on the 2.4 GW Hassyan power plant in the UAE and the 485 MW Zarqa gas power plant in Jordan.
China’s green bonds 💚 Nasdaq Dubai: State-owned Industrial and Commercial Bank of China listed green bonds worth USD 2.03 bn on Nasdaq Dubai last November. The bank also listed four green bonds in February last year totalling USD 2.2 bn.
