Qatar's Government Communications Office (GCO) announced on 23 May 2024 that the Ministry of Finance has issued green bonds worth USD 2.5 billion, which is aimed at financing eco-friendly projects.
The green bonds issued are divided into two tranches: the first worth USD 1 billion for a term of five years at a spread of 30 basis points over US Treasuries, and the second worth USD 1.5 billion for a 10-year period at a spread of 40 basis points over US Treasuries.
The bonds' issuance follows the Third National Development Strategy 2024-2023, which is dedicated to protecting the environment and combating climate change. The strategy also aims to build society members who support the preservation of the environment, as stated in the Qatar National Vision 2030.
The ministry stated that the issuance had attracted much interest from diverse investors as the oversubscription exceeded 5.6 times, and the order book at peak totalled over USD 14 billion.
The ministry further announced that the subscription reflects investors' confidence in Qatar's sovereign green-financing framework. This further allows investors to participate in Qatar's development journey of combating the effects of climate change and protecting the environment through sustainable development.
Source & cover image credit: GCO
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