By Angela McDaniels
Tacoma, Wash., Nov. 7 – International Bank for Reconstruction and Development (World Bank) sold $100 million of three-year green bonds to Bank Al-Maghrib, Morocco’s central bank, for its reserves management, according to a World Bank news release.
The lead manager was Credit Agricole CIB.
“The investment will support sustainable development projects financed by the World Bank, including in countries in Africa," Abdellatif Jouahri, governor of Bank Al-Maghrib, said in the news release.
World Bank noted that Marrakesh, Morocco, is hosting the COP22 from Nov. 7 to Nov. 18, where international climate leaders will focus on the actions needed to implement the Paris Agreement.
| Issuer: | International Bank for Reconstruction and Development
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| Issue: | Green bonds
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| Amount: | $100 million
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| Maturity: | Dec. 15, 2019
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| Lead manager: | Credit Agricole CIB
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| Purchaser: | Bank Al-Maghrib
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| Announcement date: | Nov. 7
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