The Green for Growth Fund (GGF) has committed 20 million euros in support of the first green bond issued by Slovenian Nova Ljubljanska Banka (NLB) in the amount of 500 million euros.
The fund said in a statement that the deal is in line with the goal of supporting the development of renewable energy projects in North Macedonia, Montenegro, Serbia, Bosnia and Herzegovina, and Kosovo.
NLB CEO Blaz Brodnjak said that this transaction reflects the strong credit and performance of the NLB Group, as well as demonstrates that NLB has wide access to capital markets, and very importantly, it is a measure of confirming its approach to sustainability.
NLB announced its plans for green bond issuance in June. The group will aim to allocate the new funds to green projects that comply with the conditions laid out in its Green Bond Framework, namely to boost affordable and clean energy and climate action initiatives spurring on the energy transition in the coal-reliant region of southeastern Europe.
GGF has been partnering with NLB since 2011, when it provided financing to NLB Banka Banja Luka, to back low-carbon heating and distributed renewable energy production.
