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IFC commits to invest $150m in China Bank green bonds

IFC commits to invest $150m in China Bank green bonds.....»»

Category: financeSource: thestandard thestandardOct 19th, 2018

IFC commits to invest $150 million in China Bank’s green bond

The International Finance Corp. has committed to invest $150 million in a green bond issued by China Banking Corp., the proceeds of which would be used to fund climate-related projects......»»

Category: financeSource:  philstarRelated NewsOct 19th, 2018

Asia under water: How 137 million people’s lives are being put at risk – CNN News

Khorsheeda Khatun had been left with nothing &'8212; then that too was washed away. The 28-year-old fled her home country of Myanmar in January with her two daughters, escaping the latest outbreak of violence, and was living in the Kutupalang Makeshift Settlement in Bangladesh when cyclone Mora arrived five months later and displaced up to 500,000 people. &'8220;My house was shattered. It broke the wooden planks supporting my hut and blew away the polythene rooftop. The wind and water destroyed whatever little possessions we had,&'8221; she told UNICEF workers in June. Several weeks later, across the Himalayas in South China, over 12 million people were forced to flee their homes as flood waters rose for yet another year. In China's southeastern Jiangxi province alone, flooding this year has so far caused $430 million in damages and economic losses. In neighboring Hunan province, 53,000 homes have been destroyed &'8212; and the flooding has yet to fully recede. Increasingly severe weather, triggered by climate change, is putting hundreds of millions of people at risk across the rapidly developing countries of southern Asia. &'8220;In the next 30 years, it is projected that heavy rainfall events will be increasing &' in Asia, by about 20% for sure,&'8221; climate scientist Dewi Kirono at Australia's Commonwealth Scientific and Industrial Research Organisation (CSIRO) told CNN. Southern Asia is already the wettest area on the continent and one of the wettest regions in the world,receiving an average of at least 1000mm of rainfall a year. As the rains fall harder, more than 137 million people in India, Bangladesh and China will be put at risk of coastal or inland flooding, more people than in the rest of the Asia-Pacific combined, a study in 2012 found. Aggravating flooding through poor drainage and short-sighted planning is the sprawling, rapid urban growth across South Asia, built to accommodate the millions of rural residents moving to cities. &'8220;You still have to have proper draining. It was a green field and now it's an urban area. Quite often, if you don't do that, (because) you've concreted everything the flood run-off is so much higher and the deaths are much worse,&'8221; Oxford University visiting fellow and WWF advisor Paul Sayers told CNN. The majority of flood-related deaths and injuries worldwide since 1950 have been in three countries: China, India and Bangladesh. According to statistics from Belgium's Universite Catholique de Louvain's Emergency Events Database, since 1950, more than 2.2 million people in these countries have been killed by flooding. That includes the estimated two million people who died during the disastrous 1959 floods in China. The world's leading authority of climate change, the Intergovernmental Panel on Climate Change (IPCC), wrote in its latest report the Asia region was already suffering &'8220;huge economic losses&'8221; from weather and climate disasters, with one quarter of the entire world's economic losses from disasters in Asia alone. As flood swept through central China in July 2017, leaving devastation in its wake and almost 90 people dead or missing, locals took to Weibo to express their horror. &'8220;The road is blocked, the electricity is downed, water is polluted, no phone signal is detected, elderly (people) and children are waiting for food,&'8221; said one user living in Shilong Village in Hunan province. Photos accompanying the post showed cracked walls, piles of trash and mud everywhere. &'8220;The major district has turned to a dead city,&'8221; another user said. Almost every year in the past decade, more than 1,000 people have died in China, India and Bangladesh from flooding, according to the Database, and millions of dollars in damage has been done. The problem centers around three of the great Himalayan rivers of South and East Asia: The Ganges, Brahmaputra and Yangtze. About 500 million people, or 50% of the population in India and Bangladesh, and about 300 million people, or about 25% of the population of China, live within the flood basins of these three rivers. Taken together, the three waterways support an estimated 14% of the world's total population. In China alone, the enormous Yangtze flood plain, full of fertile soil and easy river access, is responsible forabout 40% of China's GDP. &'8220;Many Asian cities, and especially some megacities, have been built in the deltas of major rivers where ports could link the cities to the global economy,&'8221; a report by the Asian Development Bank in 2012 said. When the heavy rains higher up in the flood plains flow into these rivers, water levels rise dramatically &'8212; and floodwaters pour into the surrounding cities and towns. For example, this year, torrential rains caused a Yangtze tributary in Hunan to rise a record 3.2 meters above the warning level, bursting its banks and swamping crops and houses. Still, these factors have been here for years. Why is the danger growing now? Flooding in urban environments is more costly in terms of lives and loss of property because without a natural way to disperse the floodwaters they can cause damage &'8220;beyond the scope of the actual (flood),&'8221; experts say. &'8220;A lot of the urbanization &' has happened in a largely unplanned matter. For instance they don't have risks adequately taken into account, they don't invest enough in sustainable drainage,&'8221; Abhas Jha, the World Bank sector manager for Transport, Urban and Disaster Risk Management for East Asia and the Pacific, said. Of course the huge rush of rural residents to China and India's cities hasn't helped, as cities expand deeper into floodplains and build hurriedly to accommodate their citizens. [&'].....»»

Category: newsSource:  mindanaoexaminerRelated NewsJul 25th, 2017

China Bank issues first green bond, raises $150-M for climate-smart projects

By Anna Gabriela A. Mogato China Banking Corp. has raised $150 million in its first green bond issued, with World Bank Group-member International Finance Corp. as its sole investor. In a disclosure to the Stock Market on Friday, China Bank said it will be using the $150 million to fund “climate-smart projects, increasing the company’s […].....»»

Category: financeSource:  bworldonlineRelated NewsOct 19th, 2018

ADB sells $750M global green bonds

ADB’s support for climate change will rise to around 30 percent of its overall financing by the end of this decade The Asian Development Bank (ADB) has raised $750 million to help finance climate change mitigation and adaptation projects with the sale of 10-year green bonds. “Our green bonds issued so far in 2018 have […].....»»

Category: newsSource:  tribuneRelated NewsSep 20th, 2018

ING Bank pushes sustainable finance

Dutch giant ING Bank urged financial institutions and corporations to issue more green and social bonds, and to consider other sustainable financing solutions such as green loans......»»

Category: financeSource:  philstarRelated NewsAug 19th, 2018

Asia stocks climb, Japan’s bond yields head higher

Asian equities rose and the dollar strengthened as investors sifted through the latest news on the U.S.-China trade front and positive results from Apple Inc. Bonds fell as Japanese yields climbed higher after the central bank said it would allow more flexibility in yield movements. Stocks climbed in Japan and South Korea, while they drifted […].....»»

Category: financeSource:  bworldonlineRelated NewsAug 1st, 2018

IFC launches first green bonds in Philippines

International Finance Corp., the investment arm of the World Bank Group for the private sector, has launched the Mabuhay Bond – the first peso-denominated green bond in the Philippines – to bankroll the optimization program of Lopez-led Energy Development Corp......»»

Category: financeSource:  philstarRelated NewsJun 25th, 2018

Appetite for peso green bonds limited — ADB

THE MARKET for so-called “green bonds” remains unattractive for issuers even with the availability of environmentally friendly projects to fund, due to cost and demand issues, the Asian Development Bank (ADB) said. The bank said that the Renewable Energy Act of 2008 opened a many doors for the development of renewable energy technology, such as […] The post Appetite for peso green bonds limited — ADB appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsApr 10th, 2018

Some questions on the Panda bonds

In 2005 the International Finance Corporation (IFC) and the Asian Development Bank (ADB) issued the first “Panda” bonds — “a Chinese renminbi-denominated bond from a non-Chinese issuer, sold in the People’s Republic of China (xinhuanet.com, Sept. 29, 2005). “Both the IFC and the ADB believed issuance by supranationals could open up the market to other […] The post Some questions on the Panda bonds appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsMar 25th, 2018

Bangko Sentral okays peso-yuan spot market

Chinese tourists who travel to the Philippines will soon be able to change their renminbi into pesos at better exchange rates, while Filipino businessmen with dealings in the world's second-largest economy will soon be able to convert their pesos into yuan without having to rely on the US dollar as an intermediate peg. This will be made possible after local banks---led by the subsidiary of Bank of China---were given the green light by the central bank to develop a formal peso-renminbi spot market that will make foreign exchange transactions between both countries more efficient and cheaper. In an interview with the Inquirer, Bangko Sentral ng Pilipinas Governor Nestor Espenilla Jr....Keep on reading: Bangko Sentral okays peso-yuan spot market.....»»

Category: newsSource:  inquirerRelated NewsMar 8th, 2018

China Bank to raise up to P50B

CHINA BANKING Corp. (China Bank) is set to conduct fund-raising activities to expand its business. In a disclosure to the local bourse on Thursday, the Sy-led China Bank said its board of directors approved a funding program of up to P50 billion through a combination of long-term negotiable certificate of deposit (LTNCD), retail bonds and/or […] The post China Bank to raise up to P50B appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsMar 8th, 2018

China Bank plans P50B fund-raising

Sy family-led China Banking Corp. is planning a P50-billion fund-raising program by offering a mix of high-yielding deposit notes, bonds or commercial papers. "This program will be used to fund the bank's strategic initiatives and expansion, specifically in relation to the expected growth in the lending business," China Bank disclosed to the Philippine Stock Exchange on Thursday. "This is in line with bank's intention to be an active participant in the ongoing expansion of the country and the government's infrastructure initiatives." Based on the disclosure, the funding program could be a combination of long-term negotiable certificate of time deposit (LTNCDs), retail bonds ...Keep on reading: China Bank plans P50B fund-raising.....»»

Category: newsSource:  inquirerRelated NewsMar 8th, 2018

ICBC gets BSP green light to start PHL operations

By Melissa Luz T. Lopez, Senior Reporter A CHINESE BANK has secured regulatory approval to operate in the Philippines, which comes at a time of warmer ties between the two nations. The Bangko Sentral ng Pilipinas (BSP) has approved the application filed by the Industrial and Commercial Bank of China Ltd. (ICBC) to open a […] The post ICBC gets BSP green light to start PHL operations appeared first on BusinessWorld......»»

Category: financeSource:  bworldonlineRelated NewsFeb 18th, 2018

BDO, World Bank tie up for $150-million green bonds

MANILA, Philippines – Henry Sy-led BDO Unibank Incorporated became the country's first commercial bank to issue green bonds aimed at addressing climate change. In a disclosure to the Philippine Stock Exchange on Friday, December 8, BDO said it is issuing $150 million in green bonds to expand financing for ........»»

Category: newsSource:  rapplerRelated NewsDec 10th, 2017

BDO Unibank Inc. sells $150 M green bonds

First bank in Philippines.....»»

Category: financeSource:  philstarRelated NewsDec 9th, 2017

CLIMATE-SMART PROJECTS | BDO issues first green bond for $150M

The Philippines’ largest bank, BDO Unibank Inc. (BDO), has issued its first green bond, raising $150 million to expand financing for private sector investments that help to address climate change. It is the first green bond issued by a commercial bank in the Philippines......»»

Category: newsSource:  interaksyonRelated NewsDec 8th, 2017

BDO issues first green bond for $150M

MANILA — The Philippines’ largest bank, BDO Unibank Inc. (BDO), has issued its first green bond, raising $150 million to expand financing for private sector investments that help to address climate change. This marks the first green bond issued by a commercial bank in the Philippines. IFC, a sister organization of the World Bank and… link: BDO issues first green bond for $150M.....»»

Category: newsSource:  manilainformerRelated NewsDec 8th, 2017

PHL, China sign agreement for maiden panda bond issuance

THE Philippine government and the Bank of China (BOC) on Thursday signed the underwriting agreement of the country’s maiden issuance of $200 million worth of yuan-denominated securities or panda bonds. Finance Secretary Carlos G. Dominguez and BOC Chairman Chen Siqing signed the agreement during the official visit of Chinese Premier Li Keqiang at the Malacañang… link: PHL, China sign agreement for maiden panda bond issuance.....»»

Category: newsSource:  manilainformerRelated NewsNov 18th, 2017

PH nears deal on ‘panda’ bonds

  The Philippines' first issuance of $200 million worth of renminbi-denominated panda bonds in China moved a step closer after the government signed the underwriting agreement with Bank of China.   Also, with the tax treatment on the transaction already clarified by the Bureau of Internal Revenue, the government is on track to launch it by Nov. 27, National Treasurer Rosalia V. de Leon told the Inquirer yesterday.   Under Revenue Memorandum Circular No. 95-2017 issued by Internal Revenue Commissioner Caesar R. Dulay on Nov. 10, so-called repo transactions will be exempt from documentary stamp tax (DST). The lack of clarity on whether such deals would be ...Keep on reading: PH nears deal on ‘panda’ bonds.....»»

Category: newsSource:  inquirerRelated NewsNov 18th, 2017

PHL, China sign agreement for maiden panda bond issuance

THE Philippine government and the Bank of China (BOC) on Thursday signed the underwriting agreement of the country’s maiden issuance of $200 million worth of yuan-denominated securities or panda bonds. Finance Secretary Carlos G. Dominguez and BOC Chairman Chen Siqing signed the agreement during the official visit of Chinese Premier Li Keqiang at the Malacañang […] The post PHL, China sign agreement for maiden panda bond issuance appeared first on BusinessWorld......»»

Category: newsSource:  bworldonlineRelated NewsNov 18th, 2017