Serbia, Country has launched its first green bond issue in the amount of 1 billion euros

, News Serbia Energy

Serbian Ministry of Finance announced that Serbia has launched its first green bond issue in the amount of 1 billion euros, with a maturity date of seven years and a coupon rate of 1 %, the lowest yet in the international market.

The statement from the Ministry said that with the issue of the bonds, Serbia has joined the ranks of the rare European countries which have issued green bonds in the international financial market, and which are meant exclusively for the financing of environmentally-friendly projects.

The high level of demand has enabled Serbia to secure favorable interest rates. The total demand amounted to over 6 billion euros from more than 200 investors, which enabled the lowering of the interest rate by 0.35 % for the green, and by 0.30 % for the normal, fifteen-year bonds.

The green bonds were issued in line with the Government’s strategic plan to invest additional funds in the financing of projects in the fields of environmental protection and mitigation of climate change. It will help increase the energy efficiency and the waste management system and enable the most rational use possible of, primarily, renewable energy sources.